Business, 24.12.2019 02:31 mayratrejorod3
Iris, a calendar year cash basis taxpayer, owns and operates several tv rental outlets in florida and wants to expand to other states. during 2019, she spends $14,000 to investigate tv rental stores in south carolina and $9,000 to investigate tv rental stores in georgia. she acquires the south carolina operations but not the outlets in georgia. as to these expenses, iris should: a. expense $23,000 for 2019. b. expense $9,000 for 2019 and capitalize $14,000. c. capitalize $14,000 and not deduct $9,000. d. capitalize $23,000. e. none of these choices are correct.
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Iris, a calendar year cash basis taxpayer, owns and operates several tv rental outlets in florida an...
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