Ingol,IncWas Organized on June 1 and Began Business on September

question 76

Multiple Choice

Ingol,Inc.was organized on June 1 and began business on September 13.Ingol elected a calendar year for tax purposes.The corporation incurred $60,300 of legal and other professional fees attributable to its formation.How much of these costs can Ingol deduct on its first tax return?

• A)-0-
• B)$1,340
• C)$6,229
• D)None of the above

---

Definitions:

SSIs Rate

Stands for Surgical Site Infections rate, which is a measure used in healthcare to quantify the occurrence of infections that occur after surgical procedures in the part of the body where the surgery took place.

National Average

The mean value calculated from the available data that represents a norm or benchmark across a country.

Divorce Rate

The divorce rate is a statistical measure that represents the number of divorces per unit of population within a specified time period or demographic.

Confidence Interval

A range of values derived from sample statistics that is likely to contain the true value of an unknown population parameter.