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Please explain why: Stork Partnership incurred $15,000 of organizational costs and $75,000 of startup costs in 2016. Stork may deduct $5,000 each of organizational and
Please explain why:
Stork Partnership incurred $15,000 of organizational costs and $75,000 of startup costs in 2016. Stork may deduct $5,000 each of organizational and startup costs, and the remaining costs ($10,000 of organizational costs and $70,000 of startup costs) may be amortized over 180 months.
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