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P incurred incorporation costs of $10,000 to incorporate a new corporation, effective January 1 of the current year, and chose December 31 as its first-year
P incurred incorporation costs of $10,000 to incorporate a new corporation, effective January 1 of the current year, and chose December 31 as its first-year end. What is the maximum amount that can be deducted in computing income for the current year?
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Concepts In Federal Taxation
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
19th Edition
978-0324379556, 324379552, 978-1111579876
