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julbrain
Returning Member

copyright license expense

I pay someone license fees for the use of their copyrighted design in the products I make and sell.  I paid $14,000 in 2021, but this amount is for 2021 and 2022.  Can I capitalize/depreciate that amount over 2 years?  If so, how can I do that in TurboTax?  I don't see any option for depreciating something like that.  I tried Intangibles, Other Property, but it doesn't seem to fit in that category.

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1 Reply
ColeenD3
Expert Alumni

copyright license expense

No, this is an expense. It can't carry over to the second year. For calendar year taxpayers, you deduct the expense in the year paid.

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