The amount of startup expenditures that can be deducted in the year incurred is the greater of the actual amount of such expenses or $5,000.

Name: The amount of startup expenditures that can be deducted in the year incurred is the greater of the actual amount of such expenses or $5,000.
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The amount of startup expenditures that can be deducted in the year incurred is up to $5,000, but this amount is reduced by the amount by which the total startup costs exceed $50,000.

The Amount of Startup Expenditures That Can Be Deducted in the Year