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:

Emotional

Relating to feelings, moods, and emotional states, and the impact they have on behavior and thought processes.

Controversial

Marked by or capable of causing debate or disagreement among people.

Direct Approach

A straightforward method of communication or action that goes straight to the point, without any detours or evasion.

React Negatively

To respond adversely or unfavorably to a situation, comment, or action.