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Determine her startup expenditure deduction

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Problem - Martha was considering starting a new business. During her preliminary investigations related to the new venture, she incurred the following expenditures.

Salaries $22,000

Travel 18,000

Interest on short-term note 4,000

Professional fees 13,000

Martha begins the business on July 1 of the current year. If Martha elects § 195 treatment, determine her startup expenditure deduction for the current year.

Reference no: EM132667649

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