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How to do the disposition of the Business Startup Costs which has been amortized on 1120S?

caseyPham
Level 2

I amortized the Business Startup Costs (Type of asset: L, Amortized intangibles), now the business completely shut down, no sales of any assets. How can I claim these Business Startup Costs as loss?

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3 Comments 3
IRonMaN
Level 15

Report the remaining unamortized cost as an expense.


Slava Ukraini!
caseyPham
Level 2

Thanks, can you show me how to do report the remaining unamortized cost in ProSeries? What form you use?

IRonMaN
Level 15

You can always just show it as an "other expense" - amortization of startup costs.


Slava Ukraini!