Amortization

[Tweety]

Can a taxpayer take full amortization for non-tangible items in the year they end being a sole proprietor to begin an LLC?

[Just-Lisa-Now-]

What kind of LLC?

[sjrcpa]

No. The depreciable/amortizable assets move over to the LLC.

[qbteachmt]

What is the nontangible item?

[claudetcb]

Only if there is positive net basis of the amortizable item. Recall that you have already claimed amortization expense in prior years; you cannot duplicate that by restoring the original cost of the amortizable item. That would be double dipping, and cause for an audit.