Multiple Choice
John, a rental car dealer on Miami Beach, is considering opening a beauty salon in San Francisco.After spending $8,000 investigating such possibilities in San Francisco, John decides not to open the salon.As a consequence, the $8,000 is:
A) Capitalized and amortized over 189 months
B) Capitalized and deductible over the life of the business
C) Deduct $5,000 and amortize the balance over 180 months
D) Not deductible
Correct Answer:
Verified
Correct Answer:
Verified
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