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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Related Book For
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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