Teal Corporation is incorporated in November 2017. The following formation expenses are incurred in 2017:
Except for the legal and accounting expenses which are paid in 2018, all other expenses are paid in 2017. If Teal Corporation uses the cash basis and adopts a calendar year for tax purposes, the amount of organizational expenditures it can elect to expense for 2017 is:

Question

Teal Corporation is incorporated in November 2017. The following formation expenses are incurred in 2017: ​
 Except for the legal and accounting expenses which are paid in 2018, all other expenses are paid in 2017. If Teal Corporation uses the cash basis and adopts a calendar year for tax purposes, the amount of organizational expenditures it can elect to expense for 2017 is:

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The Answer of Teal Corporation is incorporated in November 2017. The following formation expenses are incurred in 2017: ​
 Except for the legal and accounting expenses which are paid in 2018, all other expenses are paid in 2017. If Teal Corporation uses the cash basis and adopts a calendar year for tax purposes, the amount of organizational expenditures it can elect to expense for 2017 is:

Teal Corporation Is Incorporated in November 2017