Question

Schedule C - Amortization Business Start-Up Costs

Accepted Answer

You are prompted to enter the start-up costs when entering Schedule C - Entering Sole Proprietorship in Program.

Note. If you have already made amortization entries, then you will be brought to the screen Business Income - Amortization Review.

The current year expense and amortization amount will appear on Form 4562. When you print the return, you will see a worksheet titled "Amortization Expenditure Summary," which will provide a breakdown of the total costs and how much was elected to be expensed in the current year.

See IRS Form 4562 Instructions and IRS Publication 535 for details on Business Start-up and Organizational Costs.