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Startup Costs - Section 195 Summary or Organizational Costs - Section 248/709 Summary window

Show all hidden content
Use this window to view how the application calculated the maximum startup costs or organizational costs for an asset, or to view an asset's maximum startup or organizational expense.
To open the Startup Costs - Section 195 Summary window or the Organizational Costs - Section 248/709 Summary window, select
Tasks
 then
Display Start-up/Org Exp Summary
.
note
  • The Startup Costs - Section 195 Summary window is accessible only for assets placed in service during the current year when:
    • Intangible asset (IRS Code Sec 195 - start-up expenses)
       is selected from the Method/Life Wizard on the Depreciation tab of the Asset Detail window, or
    • 195 - Start - up Expenses
       is selected in the
      Amortization section
       field on the Other tab of the Asset Detail window.
  • The Organizational Costs - Section 248/709 Summary window is accessible only for assets placed in service during the current year when:
    • Intangible asset (IRS Code Sec 248 - organizational expenses (1120, 990))
       or
      Intangible asset (IRS Code Sec 709 - organizational expenses (1065 only))
       is selected from the Method/Life Wizard on the Depreciation tab of the Asset Detail window, or
    • 248 - Organizational Expenses (1120, 990)
       or
      709 - Organizational Expenses (1065 only)
       is selected in the
      Amortization
       field on the Other tab of the Asset Detail window.

Fields & buttons

Election calculation group box
Maximum dollar limitation
Displays the current year's maximum dollar limitation for section 195 or section 248/709.
Total cost of current property
Displays the cost of all section 195 or section 248/709 properties placed in service during the tax year.
Threshold cost of property
Displays the threshold cost of section 195 or section 248/709 property before any reduction in limitation.
Reduction in limitation
Displays the difference between the amount of section 195 or section 248/709 property that was placed in service during the current year and the threshold cost of section 195 or section 248/709 property.
Dollar limitation for tax year
Displays the section 195 or section 248/709 limitation adjusted for the amount of section 195 or section 248/709 property that was placed in service during the current year that exceeds the threshold cost of a section 195 or section 248/709 property.
Elected cost group box
Total elected cost (including current asset)
Displays the total elected section 195 or section 248/709 cost of the client's current-year assets.
Elected for current asset
Displays the section 195 or section 248/709 elected cost for the current asset. This is the amount entered in the
Start-up/Org Exp
 field on the Depreciation tab of the Asset Detail window.
If the asset's elected section 195 or section 248/709 cost is more than the maximum allowed for this asset but you want to keep the amount you elected, select OK or
Cancel
 to close this window.
Max button
Select to enter the maximum section 195 or section 248/709 expense allowed for the current asset in the
Start-up/Org Exp
 field on the Asset Detail window.

This article applies to:

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