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If the business was not operating in 2016, you will hold the start-up expenses until 2017 (the first year that your business was open). On the 2017 tax return, you can deduct up to 5,000 dollars of the start-up expenses and you can amortize the excess that greater than 5,000 dollars over 15 years.
If the business was not operating in 2016, you will hold the start-up expenses until 2017 (the first year that your business was open). On the 2017 tax return, you can deduct up to 5,000 dollars of the start-up expenses and you can amortize the excess that greater than 5,000 dollars over 15 years.
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