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?
You'll need to sign in or create an account to connect with an expert.
If your business is dissolved in 2019, you can expense the unamortized portion of your intangible assets by adding it to the amortization expense.
Ok , thanks but do you know where in TurboTax you would enter the info?
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).
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
eedavies4
New Member
kms369
Level 2
midtowncpa
Level 2
kare2k13
Level 4
mpruitt71
New Member