The RT Limited Partnership incurs the following expenses during the time that the partnership is being organized:
Attorneys' fees:
For drawing up the partnership agreement $10,000
For advice on marketing the partnership interests on a stock exchange 14,000
Accountants' fees:
For establishing the accounting system 6,000
For the first quarter's bookkeeping 600
What is the maximum amount that the partnership can deduct as an organization and syndication expense for the first year in which the partnership begins business, assuming the business began on October 1?

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The Answer of The RT Limited Partnership incurs the following expenses during the time that the partnership is being organized:
Attorneys' fees:
For drawing up the partnership agreement $10,000
For advice on marketing the partnership interests on a stock exchange 14,000
Accountants' fees:
For establishing the accounting system 6,000
For the first quarter's bookkeeping 600
What is the maximum amount that the partnership can deduct as an organization and syndication expense for the first year in which the partnership begins business, assuming the business began on October 1?

The RT Limited Partnership Incurs the Following Expenses During the Time