I started a business in July and officially incorporated in Oct 2022, and I have 100k in R&D salary.
I have read that I am supposed to use half year convention. Does that mean I should put 6/30/2022 as start date for the 100k so it will come out as 10k for depreciation expense? Wouldn't that look odd because my business starts in July? Or should I use mid-quarter convention, then group the salary by quarter?
Also, for R&D equipments, should I choose "Other" for Amortizable Intangible property? or "Tools and Machinery? I found that when I choose Machinery, the depreciation will be unevenly distributed over future years and not straightline, and I thought we are supposed to use straightline for R&D expenses?
Thanks for your help. I just find this part of the return confusing.
