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trink1954
Returning Member

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? 

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3 Replies
MinhT1
Expert Alumni

Amortization Exp

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

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trink1954
Returning Member

Amortization Exp

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

MinhT1
Expert Alumni

Amortization Exp

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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