TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

Question

IRC Section 195b1

Forum|Forum|3 years ago
February 23, 2023
1 reply
0 views

This form in TurboTax is for "Election to Amortize Start-up Expenditures". It was apparently added during the 'walk through' Easy Step interview since I started a small business. However, what if I don't want to, or don't need to Amortize (no high dollar items/tools/machines...) and just have expenses? The fact that it states "Election" indicates a choice. If I choose not to Amortize, can I just delete that form? Right now I'm getting stuck on the Federal Review making me go back to fix that form. I've already listed all my expenses in Schedule C, Part II, Expenses.

Can anyone clarify please?

Thanks

If your Startup costs are more than $5,000 TurboTax automatically uses the election. If you want to delete, see How do I view and delete forms in TurboTax Online?