Tax Drill $-$ Alternative Treatments for Research and Experimental Expenditures

Complete the following statements regarding the alternative tax treatments for research and experimental expenditures.

Research and experimental expenditures paid or incurred in taxable years beginning after December $31,2021,$ must be capitalized and amortized. Amortization begins at the the expenses are paid or incurred rather than when the taxpayer first realizes benefits. The expenditures are amortized ratably ofer a for domestic research. If a research project is abandoned, any unamortized expenditures are deducted