Question
Deducting and Amortizing Start-Up Expenditures
I am completing a partnership return that has start-up expenses under $50,000. I am looking to deduct $5,000 in the current year and amortize the rest over 180 months. I have entered each asset, the date incurred and the expenditure amount on the screen for "Deemed Election to Amortize/Deduct Start-Up Expenditures". But when I print the return, I see no evidence of this deduction.
