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What is the maximum amount of start-up costs

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Question - John, a cash-basis calendar-year taxpayer, started up Milk-Tea a sole proprietorship on September 1, Year 1. John incurred and paid $53,150 in start-up expenses during the three months prior to beginning business. What is the maximum amount of start-up costs deductible on John's Year 1 tax return?

Reference no: EM131999982

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