Generally, when business start-up costs exceed the maximum amount allowed, the remaining costs may be amortized...

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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

business accounting

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Answer 1

Answer #1

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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Answer 2

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