Crimson Corp. was organized as a calendar year corporation in January 2017, incurring $51,000 in qualified organizational

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Crimson Corp. was organized as a calendar year corporation in January 2017, incurring $51,000 in qualified organizational expenses, and began business in March 2017. What is the maximum amount Crimson may deduct for organizational expenditures on its 2017 corporate tax return?

a. $4,000

b. $6,611

c. $6,350

d. $7,133

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South Western Federal Taxation 2018 Essentials Of Taxation Individuals And Business Entities

ISBN: 9781337386173

21st Edition

Authors: William A. Raabe, James C. Young, Annette Nellen, David M. Maloney

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