A sole proprietorship that began business May 1, 2018, incurred $7,500 of startup expenses. If the business elects to report the maximum amount of startup costs as a current expense, what is the amortization amount reported as an "other expense" on Schedule C?

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Business

Maritza Spence

3 May, 04:22

A sole proprietorship that began business May 1, 2018, incurred $7,500 of startup expenses. If the business elects to report the maximum amount of startup costs as a current expense, what is the amortization amount reported as an "other expense" on Schedule C?

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Kathy Hansen · Answer 1

A sole proprietorship that began business May 1, 2018, incurred $7,500 of startup expenses. If the business elects to report the maximum amount of startup costs as a current expense, what is the amortization amount reported as an "other expense" on Schedule C?