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 these choices are correct
Correct Answer:
Verified
Correct Answer:
Verified
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