Randall Posted February 22, 2015 Report Share Posted February 22, 2015 For election to write off organization cost in first year (less than $5000), I don't see an election option in ATX Fixed Assets or on the Elections tab. 4562 instructions say no statement is required. Do we just enter it as an expense with no 4562 and no entry in ATX Fixed Assets? Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted February 22, 2015 Report Share Posted February 22, 2015 Deducting it is the election. No asset. I like to use description "Start up costs". 2 Quote Link to comment Share on other sites More sharing options...
Randall Posted February 22, 2015 Author Report Share Posted February 22, 2015 Thanks Quote Link to comment Share on other sites More sharing options...
mcb39 Posted February 22, 2015 Report Share Posted February 22, 2015 Thanks Thanks! Quote Link to comment Share on other sites More sharing options...
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