Expense Remaining Unamortized Startup Costs

[freshy70]

1120S final return. How do I expense the remaining unamortized startup costs? I entered date of disposition as 7/30/2024 when the businesses closed, but I only get regular amortization still.

[Accountant-Man]

Did you enter $0 for the sales price on the asset sheet?

[freshy70]

No, but I did enter -1 now because I see where it says to enter -1 if sale price is zero. But now change. Still limited to current year amortizaton.

[sjrcpa · Accepted solution]

Are you sure it is not showing up on Schedule K on a separate line?

[freshy70]

Yes. It was showing up as a net section 1231 loss on the schedule K. Thank you