Stanford owns and operates two dry cleaning businesses. He travels to Boston to aquire a...
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Stanford owns and operates two dry cleaning businesses. He travels to Boston to aquire a restaurant. Later in the month, he travels to New York to discuss aquiring a bakery. Stanford does not acuire the restaurant but does aquire the bakery on November 1, 2022.
Stand incurred the following expenses:
Total investigation costs related to the restaurant $28,000
Total investigation costs related to the bakery $51,000
What is the maximum amount Stanford can deduct in 2022 for investigation expense?
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