At its election, a corporation can either deduct all organizational costs paid during the current year or amortize the expenditures over a period not less than 180 months.
Correct Answer:
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Q2: The proprietorship uses gross ordinary income as
Q3: A corporation may be required to recapture
Q4: In computing a corporation's limitation on the
Q5: Section 11 of the Code imposes a
Q6: A corporation is an artificial "person" created
Q8: All bad debts of a corporation are
Q9: Because organizational costs are assets with indefinite
Q10: A corporation is allowed a dividends-received deduction
Q11: If an accrual basis corporation incurs an
Q12: A corporation is not allowed a dividends-received
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