Isabella traveled to a neighboring state to investigate the purchase of an interior design firm. Her expenses included travel, legal, accounting, and miscellaneous expenses. The
Isabella traveled to a neighboring state to investigate the purchase of an interior design firm. Her expenses included travel, legal, accounting, and miscellaneous expenses. The total was $51,000. She incurred the expenses in January and February of 2020. In each of the following scenarios, what can Isabella deduct in 2020?
In your computations, round the per-month amount to the nearest dollar. If an amount is zero, enter "0".
a. Isabella was in the interior design business and did not acquire the interior design firm. $fill in the blank 1
b. Isabella was in the interior design business. She acquired the interior design firm and began operating it on August 1, 2020. $fill in the blank 2
c. Isabella did not acquire the interior design firm and was not in the interior design business. $fill in the blank 3
d. Isabella acquired the interior design firm but was not in the interior design business when she acquired it. Operations began on May 1, 2020. $fill in the blank 4
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