Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 4, 2020 11:10:24 AM

How can I fill out Election to Amortize Start-up Expenditures?

0 1 1321
1 Replies
Expert Alumni
Mar 4, 2020 11:57:07 AM

You will find this in the business or Self-employed section.

  1. Scroll to business assets
  2. Select Assets being depreciated
  3. NO I want to review my answers ....
  4. NO I did not buy any items ....
  5. No I did not make improvements ....
  6. Now select [Add an asset]
  7. Select Intangibles Other
  8. Select Amortizable intangibles
  9. Describe asset as Start up cost
  10. Enter total cost
  11. Enter the day you opened the business
  12. Select you purchase new
  13. YES always 100%
  14. Again enter date you opened the business
  15. Code section is : 195 Business Start-up Cost
  16. Useful life is 15 years

 

  1.