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Level 2
January 20, 2025
Solved

I've created a multi-member LLC, registed as S-Corp in NV state for Rental properties in 2024, but did not invest in any items in 2024. I'll start investing in 2025, could I push the startup cost deductions to 2025 tax deductions & please provide inf

  • January 20, 2025
  • 1 reply
  • 26 views
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    Best answer by Mike9241

    Expert Reviewed

    since the activity didn't start until 2025, you can not write off or amortize start-up costs in 2024

    you must still file a 2024 s-corp return. 

    see iRS instructions

    https://www.irs.gov/pub/irs-pdf/i1120s.pdf 

     

    1 reply

    Mike9241
    Level 15
    Mike9241Level 15Answer
    Level 15
    January 20, 2025

    Expert Reviewed

    since the activity didn't start until 2025, you can not write off or amortize start-up costs in 2024

    you must still file a 2024 s-corp return. 

    see iRS instructions

    https://www.irs.gov/pub/irs-pdf/i1120s.pdf 

     

    Mike9241