Maximum amount stanford can deduct for investigation expense

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Reference no: EM13864536

Stanford owns and operates two dry cleaning businesses. He travels to Boston to acquire a restaurant. Later in the month, he travels to New York to discuss acquiring a bakery. Stanford does not acquire the restaurant but does acquire the bakery on November 1, 2015.

Stand incurred the following expenses:

Total investigation costs related to the restaurant $28,000

Total investigation costs related to the bakery $51,000

What is the maximum amount Stanford can deduct in 2015 for investigation expenses?

Reference no: EM13864536

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