You would only include it if you "opened your doors for business" on Dec. 31st. This means you were able to receive income. If you actually started your business in 2017 (regardless of the date you formed the LLC), then you don't report those expenses until you prepare your 2017 tax return (in 2018). Either way, those costs would be considered StartUp costs.
"Business start-up and
organizational costs are generally capital expenditures. However, you can elect
to deduct up to $5,000 of business start-up and $5,000 of organizational costs
paid or incurred after October 22, 2004. The $5,000 deduction is reduced by the
amount your total start-up or organizational costs exceed $50,000. Any
remaining costs must be amortized.
Start-up costs include any
amounts paid or incurred in connection with creating an active trade or
business or investigating the creation or acquisition of an active trade or
business.
Organizational costs include
the costs of creating a corporation. "
Note: You
can elect to deduct or amortize certain business start-up costs. Refer to
chapters 7 and 8 of Publication
535, Business Expenses.
How to get there in TurboTax:
While inside the software and
working on your return, type start-up
expenses in the Search at the
top of the screen (you may see a magnifying glass there). There will be a
popup that says Jump to start-up
expenses. Select that to get to the general area.
