Crimson Corp. was organized as a calendar year corporation in January 2016, incurring $51,000 in qualified organizational

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Crimson Corp. was organized as a calendar year corporation in January 2016, incurring $51,000 in qualified organizational expenses, and began business in March 2016. What is the maximum amount Crimson may deduct for organizational expenditures on its 2016 corporate tax return?

a. $4,000
b. $6,611
c. $6,350
d. $7,133

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South Western Federal Taxation 2017 Comprehensive

ISBN: 9781305874169

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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