jc152
Returning Member

Business & farm

Hi @AbrahamT ,

 

See below on my business info ;

 

Did you enter any information for any rental real estate? Yes, and I do not want to add the start up of the LLC cost to the real estate property since it's not pertaining to the individual property but rather the LLC itself. My previous CPA listed it as an amortized expense for the llc and not the individua real estate. If I want to isolate that expense seem like only way is to create another dummy real estate assets and then add that expense there but the issues is that it'll consider this as another real estate property. 

 

there is a section under federal taxes -> deduction called start up cost but it wont' let me enter anything because 2022 is not my first tax year. The LLC was created a few years ago.

 

businessinfo.png

 

 

startupcost detail.pngstartupcost.png