A sole proprietordhip that began business May 1 2017 incurre

A sole proprietordhip that began business May 1, 2017, incurred $9,000 of start -up expenses. If the business elects to report the maximum amount of start-up costs as current expense, what is the amortization amount reported as an \'\"other expense\" on Schedule C?

Solution


Before the business opened the start up cost / expense = $9000
It been less than $50000, so The full $9000 can be reported as amortisation amount/deducted as the first year Schedule C as \"Other Expenses\".


A sole proprietordhip that began business May 1, 2017, incurred $9,000 of start -up expenses. If the business elects to report the maximum amount of start-up co

Get Help Now

Submit a Take Down Notice

Tutor
Tutor: Dr Jack
Most rated tutor on our site