"AdamNYC" <adamriggs1[at]hotmail.com> wrote:

- quote -

Better check out section 195 (b)(1)(d) of the Internal
Revenue Code. NOT Deductible ever. But Capitalizable and
Amortizable over 60 months.

Now others may disagree by my reading is that this election
MUST be made on a timely filed return in the year the
expenses are incurred and not when the "costs" are placed in
service. Therefore, MY VIEW is you've a capitalized cost
that you can not amortize.

--
Regards,
Mark Rigotti

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In early 2003 I started a single member LLC.
The LLC then repayed me personally for a few
expenses I incurred in the startup process, but
while the repayment occurred in 2003 the
original expenses were paid by me in Dec 2002.
Now I am doing the 2003 taxes of
the LLC (not a separate entity for tax
purposes if that matters) and I'm wondering
If I'm able to claim the repayment of the
2002 expenditures as a 2003 expense of
the LLC, or if I've made a mistake. Any
help is appreciated.

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