Corporation begins operations

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Reference no: EM13952198

Your calendar-year corporation begins operations on October 1, 2015. You determine that you have incurred organizational expenses of $25,000 and start-up costs of $65,000.

a. How much can you deduct for start-up costs on your initial return?

b. How much can you deduct for organizational expenses on your initial return?

Reference no: EM13952198

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