Yes, and I'll line out the answer again by number:
- All costs prior to start date should be added together, and details kept in an out of QB file but added at start date to QB as an intangible asset. The total asset value should be $5,000 less than the calculated cost as per the allowable 1st-year deduction (expense) amount and the $5,000 should be listed as an expense - you can either spread it out among categories or choose one that is most represented by the amount. The offset for both, if both were paid for with personal funds (I'm assuming), should be to equity,
- Yes - as you've noted
- Yes - as you've noted
@CAS21
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