costs of P incurred incorporation $8,000 to incorporate a new corporation, effective January 1 of the current year, and chose December 31 as its first year end. What is the maximum amount that can be deducted in computing income for the current year?

costs of P incurred incorporation $8,000 to incorporate a new corporation, effective January 1 of the current year, and chose December 31 as its first year end. What is the maximum amount that can be deducted in computing income for the current year?

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter3: Taxes On The Financial Statements

Section: Chapter Questions

Problem 4BCRQ

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Subject - account

Please help me.

Thankyou.

P incurred incorporation costs of
$8,000 to incorporate a new
corporation, effective January 1 of
the current year, and chose
December 31 as its first year end.
What is the maximum amount
that can be deducted in
computing income for the current
year?

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