Yes, it is correct. The maximum start-up amount that can be claimed as an expense is $5,000, the rest is amortized. So, if you paid $10,000 for your start up or more, each of you can deduct $5,000. However, you
must take into account the items in accordance with each spouse's interest
in the business. If that interest
is 50/50, you would divide business items in half.
