Question
Osha, a cash-basis calendar-year partnership, began business on April 1, Year 1. Osha incurred and paid the following during Year 1: Legal work associated with
Osha, a cash-basis calendar-year partnership, began business on April 1, Year 1. Osha incurred and paid the following during Year 1:
Legal work associated with formation of the partnership: $15,260
Accounting fees associated with promoting and selling partnership interests: $10,000
What is the maximum amount of organizational costs deductible on Osha's Year 1 partnership return?
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Auditing The Art And Science Of Assurance Engagements
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser-Hogeterp
11th Edition
0132088061, 978-0132088060
