Tommy, an automobile mechanic employed by an auto dealership, is considering opening a fast-food franchise.If Tommy decides not to acquire the fast-food franchise, any investigation expenses are:
A) A deduction for AGI.
B) A deduction from AGI, subject to the 2% floor.
C) A deduction from AGI, not subject to the 2% floor.
D) Deductible up to $5,000 in the current year with the balance being amortized over a 180-month period.
E) Not deductible.
Correct Answer:
Verified
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