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Jasmine started a new business in the current year. She incurred $20,000 of start-up costs. How much of the start-up costs can be immediately deducted

Jasmine started a new business in the current year. She incurred $20,000 of start-up costs. How much of the start-up costs can be immediately deducted (excluding amounts amortized over 180 months) for the year?

Multiple Choice

$0

$2,500

$5,000

$20,000

None of the choices are correct.

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