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