Teal Corporation is incorporated in November 2012.The following formation expenses are incurred in 2012: Except for the legal and accounting expenses which are paid in 2013,all other expenses are paid in 2012.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 2012 is:

Question

Teal Corporation is incorporated in November 2012.The following formation expenses are incurred in 2012:  Except for the legal and accounting expenses which are paid in 2013,all other expenses are paid in 2012.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 2012 is:

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The Answer of Teal Corporation is incorporated in November 2012.The following formation expenses are incurred in 2012:  Except for the legal and accounting expenses which are paid in 2013,all other expenses are paid in 2012.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 2012 is:

Teal Corporation Is Incorporated in November 2012