Author Question: Toby, owner of a cupcake shop in New York, had been considering opening a similar business (i.e., a ... (Read 108 times)

MirandaLo · **on:** Sep 13, 2020

Toby, owner of a cupcake shop in New York, had been considering opening a similar business (i.e., a cupcake shop) in Phoenix. After spending $6,800 investigating such possibilities in Phoenix, Toby decided against opening the store on July 1. What is the maximum amount of deduction for the current year attributable to these expenditures?
◦ $0
◦ $5,000
◦ $5,600
◦ $6,800

Ddddd · **Reply #1 on:** Sep 13, 2020

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