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Business & farm
Thank you, very helpful.
A bit of clarification on your two-Schedule Cs and amortization comment. If I incurred $600 of expenses prior to LLC formation date, and formation date was, for example, May 1, then are you recommending place 4 months (1/3 of $600, so $200) of expense on the first SchC (person SS#) and the other 8 months=2/3=$400 on the second SchC (LLC EIN).
That sound like the entire expense is still deducted either way (single SchC or two of them), but if I choose to use 2, then simply split as percentage relative to start date.
Correct?
May 22, 2024
10:54 AM