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Level 2
Mar 8, 2023 12:43 AM UTC
Question

Software development Costs

How do you enter software development costs to be amortized and do you need any elections with that?

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2 replies

dkh
Level 15
Mar 8, 2023 3:09 AM UTC

Enter on the Asset Entry Worksheet    Type of Asset - L  is for Amortizable intangibles  then there is a line to enter IRC section     which I don't know but you can use the Help ? to open info that will give you list of IRC codes

 

sjrcpa
Level 15
Mar 8, 2023 3:11 AM UTC

174.

It is mandatory now. Not an election.

The more I know the more I don’t know.