Amortization Exp

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?

613

Expert Alumni

Jun 29, 2020 11:51:19 AM

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

Returning Member

Jun 29, 2020 12:27:58 PM

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

Expert Alumni

Jun 29, 2020 12:47:10 PM

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).

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Amortization Exp