In March of the Current Year,Marcus Began Investigating the Possibility

question 92

Multiple Choice

In March of the current year,Marcus began investigating the possibility of opening a specialty clothing store.From March through June,he spent $2,300 on a market survey,$2,700 in consulting fees to find the best location and $3,600 in professional fees setting up an accounting and inventory system.Although he had never run his own business before,on August 1 he opened his doors for business.What is the maximum amount of deduction for the current year attributable to these expenditures?

• A)$0
• B)$5,000
• C)$5,100
• D)$8,600

---

Definitions:

Impairment

A reduction in function or efficiency of a body part or organ, affecting the individual's day-to-day abilities and activities.

Separation Anxiety Disorder

Condition involving excessive, prolonged anxiety concerning separation from home or from people to whom a person is attached.

Excuses

Reasons or explanations given to justify actions or decisions, often to mitigate blame.

Nauseated

Experiencing discomfort and a feeling of sickness in the stomach, often with an urge to vomit.