naomicervero
naomicervero
24.12.2019 • 
Business

Iris, a calendar year cash basis taxpayer, owns and operates several tv rental outlets in florida and wants to expand to other states. during 2019, she spends $14,000 to investigate tv rental stores in south carolina and $9,000 to investigate tv rental stores in georgia. she acquires the south carolina operations but not the outlets in georgia. as to these expenses, iris should: a.expense $23,000 for 2019. b.expense $9,000 for 2019 and capitalize $14,000. c.capitalize $14,000 and not deduct $9,000. d.capitalize $23,000. e.none of these choices are correct.

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