TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 2

Question

Amortization Exp

Forum|Forum|6 years ago
June 29, 2020
3 replies
15 views

Have a business that was dissolved in 2019 but still had intangible items (setup charges) that had not been fully amortized. How/where do I enter the balance so that it can be expense in for 2019?

TurboTax Home & Biz Windows

Alumni - Intuit

If your business is dissolved in 2019, you can expense the unamortized portion of your intangible assets by adding it to the amortization expense.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

trink1954Author

Level 2

Ok , thanks but do you know where in TurboTax you would enter the info?

Alumni - Intuit

In the Business section, Business Assets, under Intangible Assets (the unamortized asset), check the box The item was sold, retired.... and follow the TurboTax interview (see screenshot attached).

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"