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What is the FECEs organization expense deduction

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Question - Fast Eddies Cycle Enterprises (FECE) is a calendar year taxpayer who began business on June 1, 2020. FECE incurs and pays the following expenses in 2020 related to forming the business:

 -$8,000 of organization meeting expenses

 -$3,000 of legal expenses to form the corporation

 -$1,920 of incorporation fees

 -$1,000 to print stock certificates

 -$1,000 to sell stock

Required - What is the FECE's organization expense deduction for 2020?

Reference no: EM132894755

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