Answered

Which of the following must be capitalized by a business? a.Replacement of a windshield of a business truck that was broken in an accident. b.Amount paid for a covenant not to compete. c.Repair of a roof of a building used in business. d.Only "Repair of a roof of a building used in business" and "Amount paid for a covenant not to compete" must be capitalized. e."Replacement of a windshield of a business truck that was broken in an accident", "Repair of a roof of a building used in business", and "Amount paid for a covenant not to compete" can be expensed rather than capitalized.

Answer :

Mona0991

Answer:

b. Amount paid for a covenant not to compete.

Explanation:

All of these expenses, except for the covenant, can be deducted in the current tax year. The  amortization period for the covenant is 15 years.

Other Questions