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    Essentials of Federal Taxation
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    Exam 10: Property Acquisition and Cost Recovery
  5. Question
    Oksana Started an LLC on November 2 of the Current
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Oksana Started an LLC on November 2 of the Current

Question 1

Question 1

Essay

Oksana started an LLC on November 2 of the current year.She incurred $30,000 of start-up costs.How much of the start-up costs can be immediately expensed for the year? How much amortization may Oksana deduct in the first year?

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