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Faraji traveled to a neighboring state to investigate the purchase of a discount shoe store. His expenses included travel, legal, accounting, and miscellaneous expenses. The
Faraji traveled to a neighboring state to investigate the purchase of a discount shoe store. His expenses included travel, legal, accounting, and miscellaneous expenses. The total was $30,000. He incurred the expenses in June and July of 2018. In each of the following scenarios what can Faraji deduct in 2018 In your computations, round the per-month amount to the nearest dollar. If an amount is zero, enter "O". a. Faraji was in the discount shoe store business and did not acquire the discount shoe store. b. Faraji was in the discount shoe store business. He acquired the discount shoe store and began operating it on August 1, 2018 c. Faraji did not acquire the discount shoe store and was not in the discount shoe store business. d. Faraji acquired the discount shoe store but was not in the discount shoe store business when he acquired it. Operations began on September 1, 2018
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