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Level 2

Question

Amortization Exp

Forum|Forum|5 years ago
June 29, 2020
1 reply
2 views

Have a business that was dissolved in 2019 but still had intangible items (setup charges) that had not been fully amortized. How/where do I enter the balance so that it can be expense in for 2019?

TurboTax Home & Biz Windows

Level 15

If your business is dissolved in 2019, you can expense the unamortized portion of your intangible assets by adding it to the amortization expense.

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trink1954Author

Level 2

Ok , thanks but do you know where in TurboTax you would enter the info?

Level 15

In the Business section, Business Assets, under Intangible Assets (the unamortized asset), check the box The item was sold, retired.... and follow the TurboTax interview (see screenshot attached).

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