Corporation Start Date

Forum|Forum|8 years ago
April 3, 2018
1 reply
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I am filing the first tax return for a new corporation. I'm trying to enter start-up costs, but I get an error message saying that the costs occurred after the start date of "0". Where do I actually enter the start date? How do I determine the start date?

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PatriciaV

Level 15

To enter the date you incorporated, go to Business Info >> About Your Business.

Scroll to the middle of the page and click Edit beside "Date you incorporated." You can enter or update the date in the box. If you're not certain of the date, check your Certificate of Incorporation. Continue back to the info page to save your entries.

Be sure you have entered a date AFTER the incorporation date for your start-up expenses, even if they were incurred at an earlier date.

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sabrinaqAuthor

Level 2

Sorry, but this is not my question. I know how to enter my incorporation date. I am asking about start date - the date before which expenses can be counted as start-up costs. I believe this is distinct from date of incorporation.

http://www.calcpa.org/public-resources/ask-a-cpa/small-business-accounting-and-operations/general/what-is-the-start-date-for-my-business

I'm trying to enter start-up costs, and I'm getting an error that they incurred after the start date. It isn't using the date of incorporation I entered. Instead it is saying my start date is "0". My incorporation date has been added, and I can see it in the system.

BillM223

Level 15

I do not have the 1120 software installed, but another tax professional sent me a screen shot of the screen in which you enter the start of business date (below). This screen is apparently 2 or 3 screens beyond the screen to enter the date of incorporation.

You are correct that the date of incorporation is not necessarily the start of business date; see the IRS discussion on this issue at §1.248-1 Election to amortize organizational expenditures paragraph (d) at IRS T.D. 9542.

Business Start Date