Emerald Corporation, a calendar year C corporation, was formed and began operations on April 1, 2016. The following expenses were incurred during the first tax year (April 1 through December 31, 2016) of operations.

Assuming a § 248 election, what is the Emerald's deduction for organizational expenditures for 2016?

Question

Emerald Corporation, a calendar year C corporation, was formed and began operations on April 1, 2016. The following expenses were incurred during the first tax year (April 1 through December 31, 2016) of operations.
​

Assuming a § 248 election, what is the Emerald's deduction for organizational expenditures for 2016?

Quizplus · Accepted Answer

The Answer of Emerald Corporation, a calendar year C corporation, was formed and began operations on April 1, 2016. The following expenses were incurred during the first tax year (April 1 through December 31, 2016) of operations.
​

Assuming a § 248 election, what is the Emerald's deduction for organizational expenditures for 2016?

Emerald Corporation, a Calendar Year C Corporation, Was Formed and Began