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

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Use this window to view an on-screen calculation of how the application calculated the maximum start-up costs or organizational costs for an asset or to view an asset's maximum start-up 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
  • For assets placed in service during the current year, you can go to the Startup Costs - Section 195 Summary window only when:
    • You select
      Intangible asset (IRS Code Sec 195 - start-up expenses)
      from the Method/Life Wizard in the Asset Detail, Depreciation tab, or
    • You select
      195 - Start - up Expenses
      in
      Amortization section
      in the Asset Detail, Other tab.
  • For assets placed in service during the current year, you can go to the Organizational Costs - Section 248/709 Summary window only when:
    • You select
      Intangible asset (IRS Code Sec 248 - organizational expenses (1120, 990))
      or
      Intangible asset (IRS Code Sec 709 - organizational expenses (1065 only))
      from the Method/Life Wizard in the Asset Detail, Depreciation tab, or
    • You select
      248 - Organizational Expenses (1120, 990)
      or
      709 - Organizational Expenses (1065 only)
      in
      Amortization
      in the Asset Detail, Other tab.

Fields and 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 property 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 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 current asset's section 195 or section 248/709 elected cost. This is the amount you entered in
Start-up/Org Exp
in 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 expense for this asset but you want to keep the amount you elected, select OK or Cancel to close this window.
Max button
Select this to enter the maximum section 195 or section 248/709 expense for the current asset in
Start-up/Org Exp
in the Asset Detail window for the current asset.

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