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lariortiz
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What do I input on the expenditure amount for the election to amortize startup costs section

 
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1 Reply
Carl
Level 15

What do I input on the expenditure amount for the election to amortize startup costs section

Ummmm... either your question is rather generic, or more than likely it's not clear and all inclusive. That's because the obvious answer is, you enter the amount you spent on business start-up costs. Period. But I'm sure you know that. So that's why I think your question is not clear.

So in the hopes of being helpful here, any money spent for depreciable business assets is "NOT" included in those startup costs, since the asset will be depreciated over time, starting on whatever date you open the business and place the assets "in service".

 

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