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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1 Best answer

Expert Alumni

Jun 4, 2019 10:49:05 PM

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

Expert Alumni

Jun 4, 2019 10:49:05 PM

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