Hi there! I founded a multi-member LLC in July 2020 for a restaurant that will be opening this Spring, 2021.
We spent approx. $10k in start-up costs (some assets, R&D, branding), but have not made any money because we have no sales/aren't open for business.
I am trying to fill out the 1065 form on TurboTax, but am confused on what I put for my business start date. All of my spending this tax season are start-up costs, and when they originally asked for my business start date, it wouldn't let me put a date in the future; so, I put when the LLC was filed. However, now in the deductions section, it is asking for startup costs before that LLC date, even though all of our spending is post that date.
Does anyone know the best way to declare this date in TurboTax? Thank you!
