Jasmine Started a New Business in the Current Year

question 11

Multiple Choice

Jasmine started a new business in the current year. She incurred $22,000 of start-up costs. How much of the start-up costs can be immediately deducted (excluding amounts amortized over 180 months) for the year?

• A) $0
• B) $2,500
• C) $5,000
• D) $22,000
• E) None of the choices are correct.

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Definitions:

Hallucinates

The experience of sensing things that are not present in the external environment as if they are real, often a symptom in psychological disorders.

Sleep Attacks

Sudden and irresistible episodes of sleep occurring in disorders such as narcolepsy, characterized by excessive daytime sleepiness.

Animal Magnetism

A historical term referring to a supposed invisible natural force possessed by all living things, including humans, thought to affect health and disease.

Franz Mesmer

An 18th-century physician best known for developing what he called "animal magnetism" and what later became known as mesmerism, a precursor to hypnotism.