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Returning Member
posted Oct 24, 2024 1:43:28 PM

Where / how to claim 15 year amortization?

We started a new sole proprietor LLC in February 2022. Turbotax of course allowed the 5k deduction and said the balance to be amortized for next 15 years. My question

 

Will turbotax 2023 automatically calculate this or where / how do I put it in? 

Thanks!

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1 Replies
Level 12
Oct 25, 2024 1:01:43 PM

Turbotax should calculate and transfer that if entered as an intangible asset.