1.In the current year the XYZ partnership incurs $35,000 of expenses that qualified as organizational expenses. They are a calendar year partnership, and begin business in July of the current year. How much is their deduction and amortization of the organizational expenses in the current year, assuming they elect the maximum of each?

2.In the current year the PQR partnership, a clothing wholesaler, incurs $60,000 of expenses as follows:

$10,000 advertising for the grand opening of a retail clothing outlet PQR just built.

$5,000 in legal fees involved in purchasing the land the outlet is located on.

$30,000 for a market study to see if a retail clothing outlet in that location would have sufficient demand.

$15,000 in advertising to publicize a new, more efficient, wholesale clothing distribution center to its customers,

PQR is a calendar year partnership, and they actually open the doors of the retail clothing outlet in November of the current year, even though they were ready to open in September. How much is PQRs deduction and amortization of the above expenses in the current year, assuming it elects to deduct the maximum?

3.In the current year the Taylor Partnership, a calendar-year partnership, was organized and began a new business. It had the following expenditures in the current year:

$10,000 Accounting fees for preparations of offering materials

$20,000 Printing costs of the brochures used in selling the partnership interests

$15,000 Legal fees for drafting the partnership agreement

$38,000 Local and state filing fees

$25,000 Pre-opening wages paid to employees being trained and their instructors

$20,000 Pre-opening travel and other expenses incurred to line up prospective customers

$6,000 Expenditures to get property (for store site) appraised during purchase.

How much deduction and amortization will it be able to take in the current year, if it is ready for and begins business in October?