Iris, a calendar year cash basis taxpayer, owns and operates several TV rental outlets in Florida, and wants to expand to other states. During 2019, she spends $14,000 to investigate opening more TV rental outlets in South Carolina and $9,000 to investigate opening restaurants in Georgia. She acquires the South Carolina operations, and the restaurants in Georgia. What is the maximum amount of expenditures that can be deducted in 2019?

What elections are available to Iris if she decides she would like to defer any of expense deductions?

Why might she decide she would prefer to defer these expenses?