Question
Baltic partnership, a cash basis calender year entity, began business on April 1, 2016. Baltic incurred and paid the following in 2016. Legal and accounting
Baltic partnership, a cash basis calender year entity, began business on April 1, 2016. Baltic incurred and paid the following in 2016.
Legal and accounting fees relative to the formation of the partnership $52,000.
Brokerage and registration fees relative to promoting and marketing partnership interests $20,000.
What is the maximum amount that Baltic may deduct on the 2016 partnership return?
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Auditing Compensation And Benefits Programs
Authors: Kelli W. Vito
1st Edition
0894136720, 978-0894136726
