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herbtanz
Returning Member

I will be closing my husband & wife LLC. When I file a final 1065, can we lump sum any remaining amortized expenses?

Have remaining start-up costs (over $5K) from the 1st year that are now being amortized over 15 yrs.

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MinhT
Expert Alumni

I will be closing my husband & wife LLC. When I file a final 1065, can we lump sum any remaining amortized expenses?

If you close your LLC and submit a final return, you can deduct all the unamortized portion of start-up costs.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
MinhT
Expert Alumni

I will be closing my husband & wife LLC. When I file a final 1065, can we lump sum any remaining amortized expenses?

If you close your LLC and submit a final return, you can deduct all the unamortized portion of start-up costs.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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