Other Objective Questions Designate Whether the Following Expenses Are Fully Deductible (F), Partially

Other Objective Questions
Designate whether the following expenses are fully deductible (F) , partially deductible (P) , or nondeductible (N) in the year paid.
-Matthew, a car dealer in Atlanta, wants to open a restaurant in Miami. He spends $8,000 investigating the location and feasibility of opening the restaurant in 2018, Matthew opens the restaurant in Miami in November and spends an additional $7,000 in start-up costs. In 2018 Matthew can:

A) Deduct the entire $15,000
B) Deduct $8,000 with the remaining $7,000 amortized over 15 years
C) Deduct $5,000 with the remaining $10,000 amortized over 15 years
D) Only amortize the entire $15,000 over 15 years

Correct Answer:

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