Question
Which of the following statements is/are false? A. Unless the taxpayer makes an election to expense them, Start-up expenditures must be capitalized and amortized on
Which of the following statements is/are false?
| A. | Unless the taxpayer makes an election to expense them, Start-up expenditures must be capitalized and amortized on a straight-line basis over 15 years. |
| B. | The election to deduct business start up costs is made by attaching a statement to the tax return for the year in which the trade or business begins. |
| C. | Expenditures related to an investment in rental real estate (where no significant furnishing of services is performed by the taxpayer incident to the rentals) qualify as Start-up expenses under IRC195. |
| D. | All of the above are true. |
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