Cherry Corporation, a calendar year C corporation, is formed and begins business on 6/1/2021. In connection with its formation, Cherry incurs organizational expenditures of $52,400. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for the current year. 5,090 X Feedback Check My Work A corporation may elect to amortize organizational expenses over a period of 15 years or more.

Cherry Corporation, a calendar year C corporation, is formed and begins business on 6/1/2021. In connection with its formation, Cherry incurs organizational expenditures of $52,400. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for the current year. 5,090 X Feedback Check My Work A corporation may elect to amortize organizational expenses over a period of 15 years or more.

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter12: Corporations: Organization, Capital Structure, And Operating Rules

Section: Chapter Questions

Problem 34P

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Cherry Corporation, a calendar year C corporation, is formed and begins business on 6/1/2019. In connection with its formation, Cherry incurs organizational expenditures of $54,200. Round the per month amount to two decimal places. Round your final answer to the nearest dollar. Determine Cherry Corporation's deduction for organizational expenditures for 2019. $fill in the blank 1 Do not give answer in image and hand writing
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