Toby,owner of a cupcake shop in New York,is considering opening a similar business (i.e.,a cupcake shop) in Phoenix.After spending $4,200 investigating such possibilities in Phoenix,Toby decides against opening the store.What is the maximum amount of deduction for the current year attributable to these expenditures?
A) $0
B) $420
C) $840
D) $4,200
Correct Answer:
Verified
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