Crimson Corp. was organized as a calendar-year corporation in January 20X14, incurring $51,000 in qualified organizational expenses,

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Crimson Corp. was organized as a calendar-year corporation in January 20X14, incurring $51,000 in qualified organizational expenses, and began business in March 20X14. What is the maximum amount Crimson may deduct for organizational expenditures on its 20X14 corporate tax return?

a. $4,000

b. $6,611

c. $6,350

d. $7,133

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Essentials Of Taxation 2016 Individuals And Business Entities

ISBN: 9781305395305

39th Edition

Authors: William A. Raabe, David M. Maloney, James C. Young, William H. Jr. Hoffman

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