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

Start Up Costs for LLC

Love2Cruise
Level 3

If client only has 1300.00 in start up costs, do they still have the option to amortize? If so, are these costs entered on an asset entry worksheet? ProSeries gives instructions on how to do this for ProTax Online and Professional, but doesn't address how to do so in Basic. When I review the worksheet, I don't see any selections that address "start up expenses". 

Or...is it best to just expense and be done with it. This would be my recommendation since the costs are well under the $5000 limit. However, I want to provide all options afforded to the client. It's a home based social service (mediation), that did not require purchase of any capital assets.

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Just-Lisa-Now-
Level 15
Level 15

Expense

 

 


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

2 Replies 2
Just-Lisa-Now-
Level 15
Level 15

Expense

 

 


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

DTNY07
Level 4

Expense it.  Take it all in one shot rather than amortize over 15 years, 5 years, etc.