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Can Rick or Red Inc deduct any of these fees

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Question - On May 1 of the current year, Rick formed a new corporation, Red, Inc. Rick spent $3,000 in legal fees related to the formation and paid the state $600 in incorporation fees. Red, Inc. started operating its business on May 10 of the current year. Can Rick or Red, Inc. deduct any of these fees?

Reference no: EM132707406

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