Question: Basic Partnership, a cash-basis calendar-year entity, began business on February 1, 2011. Basic incurred and paid the following during 2011: Filing fees incident to the

Basic Partnership, a cash-basis calendar-year entity, began business on February 1, 2011. Basic incurred and paid the following during 2011:

Filing fees incident to the creation of the partnership $ 3,600 Accounting fees to prepare the representations in offering materials 12,000 If Basic wishes to deduct organizational costs, what is the maximum amount that Basic can deduct on the 2011 partnership return?

a. $15,600

b. $ 3,600

c. $ 660

d. $ 220

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