(1) Jamie started a new business (a corporation) this year. She incurred organizational costs of $10,000 and start-up costs of $53,000. How much of the organizational and start-up costs can be immediately deducted (excluding amounts amortized over 180 months) for the year?

(2)Fatima is a calendar-year taxpayer who operates a business. In December 2019, Fatima made the following payments: Indicate the amount of these payments that she may deduct in 2019 under both the cash method of accounting and the accrual method of accounting.

a) $4,720 for interest on a loan; the interest accrued evenly from September 1, 2019, through April 30, 2020.