BulldogTom Posted April 23 Report Share Posted April 23 Asking now before I start this return - before the board goes dark and I go into withdrawal symptoms..... Have any of you done the amortization of R&D costs on an 1120 return yet? I have one in my extended pile that I have been holding waiting for the Senate to act on the bill that is stalled. I have not even started the return yet, but I am curious if there are any issues with entering in ATX. I know it is a 5 year asset (but which one). I think it should be SL, but how do I keep ATX from taking mid-year? I am getting to this return in a couple of weeks and would appreciate any advice on how to enter in ATX Fixed Assets. Thanks - this is my first return with R&D costs. Tom Longview, TX 1 Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted April 23 Report Share Posted April 23 Use Z-Amortization and 5-Amort-174-Rsch and exp and you'll get 5 year SL HY. 1 1 Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted April 23 Author Report Share Posted April 23 2 hours ago, Abby Normal said: Use Z-Amortization and 5-Amort-174-Rsch and exp and you'll get 5 year SL HY. @Abby Normal Is half year appropriate? My understanding was you get the full year (20% of total costs) each year. Am I wrong? Thanks for the appropriate classification. Tom Longview, TX Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted April 23 Report Share Posted April 23 Both articles I read said it was half year, and I tend to assume ATX has it right. https://www.journalofaccountancy.com/issues/2022/nov/amortizing-r-e-expenditures-under-tcja.html 1 1 Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted April 23 Author Report Share Posted April 23 Thanks. I will double check my material. I probably read it incorrectly. Appreciate you! Tom Longview, TX 2 Quote Link to comment Share on other sites More sharing options...
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