topic Need my business capital improvements to populate Form 4562 Part VI? When I enter info it populates Section 3 Part B. I must be answering something wrong in Business & farm

Need my business capital improvements to populate Form 4562 Part VI? When I enter info it populates Section 3 Part B. I must be answering something wrong

kkoulogianis — Sat, 01 Jun 2019 21:16:38 GMT

I know manually how and where to report my expansion costs and carry to my Schedule C but I'm having trouble with software step by step and can't override. I doubled the size of my store last year so I need to amortize on 4562, Section VI, code section 195 so it will then carry to other expenses on Schedule C. Does anyone know what I could be answering wrong on step by step to have it populate the wrong place?

If you doubled your store size, you would enter a new ass...

Anita01 — Sat, 01 Jun 2019 21:16:39 GMT

If you doubled your store size, you would enter a new asset under the Assets section in the Schedule C interview. It sounds like an asset you would depreciate, not amortize, and the annual expense would show under depreciation, not other expenses. The new asset could be called something like 2018 improvements. You can enter and begin depreciation this as soon as the business is open.

Why are you expecting to amortize it? "Expenditures that would have otherwise been capitalized, such as the costs associated with the construction of a capital asset, are not startup costs" (Rev. Rul. 81-150). IRS