Module 2 Prob

Q6.

In 2022, Perry, who is not otherwise involved in the gas station business, spends $53,000 investigating the acquisition of a gas station. All costs are ordinary and necessary. Perry acquires the gas station and begins business on Dec. 1, 2022. What amount can Perry deduct in 2022 for the expenses incurred in investigating the acquisition of the gas station if Perry chooses to accelerate his deductions as much as possible? Assume instead that Perry incurred $55,000 in expenses instead of $53,000. What amount can Perry deduct in 2022 ? Assume instead that Perry incurred $55,000 investigating the acquisition of a gas station but did not acquire the gas station. What amount can Perry deduct in 2022? Assume instead that Perry already owned 5 other gas stations and spends $55,000 investigating the acquisition of a sixth gas station. Perry ultimately decides not to go through with the acquisition. What amount can Perry deduct in 2022