ATX entry question - before the server move

[BulldogTom]

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

[Abby Normal]

Use Z-Amortization and 5-Amort-174-Rsch and exp and you'll get 5 year SL HY.

[BulldogTom]

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

[Abby Normal]

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

[BulldogTom]

Thanks.   I will double check my material.   I probably read it incorrectly.

Appreciate you!

Tom
Longview, TX