Reference no: EM131644798

Question - Beech Corporation, an accrual basis taxpayer, was organized and began business on July 1 of the current calendar tax year. During the current year, the corporation incurred the following expenses:

State fees for incorporation $ 500 Legal and accounting fees incident to organization 1,800 Expenses for the sale of stock 2,100 Organizational meeting expenses 750

Assuming that Beech Corporation does not elect to expense but chooses to amortize organizational expenditures over 15 years, calculate the corporation's deduction for its current calendar tax year.