Question: Silo Corp. was organized on March 1, 2010, began doing business on September 1, 2010, and elected to file its income tax return on a

Silo Corp. was organized on March 1, 2010, began doing business on September 1, 2010, and elected to file its income tax return on a calendar-year basis. The following qualifying organizational expenditures were incurred in organizing the corporation:

July 1, 2010 $3,000 September 3, 2010 5,600 The maximum allowable deduction for organizational expenditures for 2010 is

a. $ 600

b. $3,000

c. $5,000

d. $5,080

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