The NFL Partnership, a calendar yearentity, is formed and begins business on June 1 of the current year. NFL incurs the following expenditures on the date the partnership isformed:

Legal fees incident to the organization of the partnership $7,000

Printing costs associated with the syndication of the

partnership 4,500

Brokerage fees associated with underwriting efforts

to sell limited partnership interests 5,100

Legal fees associated with asset transfers by three

partners 19,000

Accounting services incurred during the organizational

period 9,700

a.

What is the appropriate tax treatment(i.e., capitalization, capitalization subject toamortization, or immediateexpensing) for each of theseitems?

b.

How much amortization should the partnership deduct for the currentyear?