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Stanford owns and operates two dry cleaning businesses. He travels to Boston to discuss acquiring a restaurant. Later in the month, he travels to New
Stanford owns and operates two dry cleaning businesses. He travels to Boston to discuss acquiring a restaurant. Later in the month, he travels to New York to discuss acquiring a bakery. Stanford does not acquire the restaurant but does purchase the bakery on November 1, 2016. Stanford incurred the following expenses: Total investigation costs related to the restaurant $28,000 Total Investigation costs related to the bakery 51,000 What is the maximum amount Stanford can deduct in 2016 for investigation expenses
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