Generally, when business start-up costs exceed the maximum amount allowed, the remaining costs may be amortized...
Generally, when business start-up costs exceed the maximum amount allowed, the remaining costs may be amortized over_____ months. *
| 240 | |||
| 180 | |||
| 120 | |||
| 60 | |||
Homework Answers
| Answer b. 180 months | |||||||||
| Any excess amount over the first year limit of $5,000 (Start up costs) must be amortized over 15 years (180 months). An election to amortize the excess over $5,000 is made by claiming the deduction on Form 4562, Part VI. | |||||||||
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