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Beech Corporation, an accrual basis calendar year taxpayer, was organized and began business on August 1st of the current calendar tax year. During the current
Beech Corporation, an accrual basis calendar year taxpayer, was organized and began business on August 1st of the current calendar tax year. During the current year, the corporation incurred the following expenses: State fees for incorporation Legal and accounting fees incident to organization Expenses for the sale of stock Organizational meeting expenses $ 550 1,925 2,200 825 Assuming that Beech Corporation does not elect to expense but chooses to amortize organizational expenditures over 15 years, calculate the corporation's deduction for its current calendar tax year. Round per month calculation to two decimal places. Round your final answer to the nearest dollar. sx
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