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In 2019, Pua, who owns a gas station, spends $53,000 investigating the acquisition of a second gas station a mile down the road from her
In 2019, Pua, who owns a gas station, spends $53,000 investigating the acquisition of a second gas station a mile down the road from her existing gas station. All costs are ordinary and necessary. Pua acquires the second gas station and begins business on Nov. 1, 2019.What amount can Pua deduct in 2019 for the expenses incurred in investigating the acquisition of the second gas station?
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