Mel7777
Level 3

Hello!  I have a partnership with less than $5K of start up and $5K of organizational costs.  I've been reading through the boards and I'm not sure how best to enter. 

Intuit suggests using the IRS election form and then adding to Other Deductions, although I read from someone here that the election is no longer needed.  When I enter the Start Up or Organizational costs as an asset, with a classification of L, and note the IRC section as 195, the depreciation report shows it amortizing over the 15 years but it's less than $5K so we can take it all in one year. 

Would someone be able to coach me how to enter these in ProSeries?

Thank you for your time and coaching!

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