Question

What does an election to amortize mean?

Forum|Forum|4 years ago
February 16, 2022
1 reply
0 views

No text available

TurboTax Live Self Employed

You can elect to write off $5,000 of “start-up expenses” in the year business begins, and the rest can be deducted over a period of 180 months that begins with the month business starts. (The $5,000 figure is reduced by the excess of total start-up costs over $50,000.) You will be deemed to have made the election unless you opt-out.