Matthew, a car dealer in Atlanta, wants to open a restaurant in Miami. He spends $8,000 investigating the location and feasibility of opening the restaurant in 2017, Matthew opens the restaurant in Miami in November and spends an additional $7,000 in start-up costs. In 2017 Matthew can:
A) Deduct the entire $15,000
B) Deduct $8,000 with the remaining $7,000 amortized over 15 years
C) Deduct $5,000 with the remaining $10,000 amortized over 15 years
D) Only amortize the entire $15,000 over 15 years
Correct Answer:
Verified
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