Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

If I am doing an individuals business schedule C, do I list off ALL of the expenses that add up to the $5,000 federal start up cost or do I just put $5,000 in that box and anything over that amount gets itemized?

ZentrifyTax
Level 1

Screen Shot 2024-02-25 at 1.03.31 PM.png

Any input is greatly appreciated about how this functionality works.

0 Cheers
3 Comments 3
TaxGuyBill
Level 15

I don't know the answer (I use ProSeries, not Proconnect Online), but have you tried typing in a large number and checking what shows up on Schedule C?

For example, if you enter $10,000, does Schedule C show $10,000 or does it show $5000 plus some amortization?

ZentrifyTax
Level 1

Thanks for this. I can see how to input it now. 

Carmine
Level 1

You should run it  through the depreciation area, under amortization under code section 195 which says start up costs or just use the override on the schedule C input that you showed in your question.

0 Cheers