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QUESTION 11 In 2019, Vera spends $25,000 on start-up costs to decide whether to start a new business, and another $20,000 in 2020. She finally
QUESTION 11 In 2019, Vera spends $25,000 on start-up costs to decide whether to start a new business, and another $20,000 in 2020. She finally decides to start the business and it opens for customers on August 1, 2020. How much of her costs will she deduct in 2021. (Note: I am asking what her deduction will be for 2021, not 2020.) $2,667. 0 $3,000. 0 $4,100. 0 $4,500. QUESTION 12 Estelle placed a piece of equipment in service in 2019 and depreciated it using the mid-year rule. Her depreciation deduction for 2022 would have been $6,000 if she hadn't sold it in 2022. But she did sell it on April 1, 2022. What is her depreciation deduction for 2022? Zero. $1,500. $3.000. O $6,000
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