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Research and Experimenation capitalization
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jerry
Level 7
04-01-2023
08:26 PM
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The TCJA requires Research and Experimentation costs to be capitalized over 5 years, starting in TY 2022, with the first year being a mid-year convention. We're also supposed to file a statement that the accounting method has changed from deducting expenses to 5 year capitalization.
How do I do both in Lacerte? Would this just be Dep'n Method 54, with HY selected? How do I file a statement about the accounting method?
Thx
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