Org Cost-1st year write off

[Randall]

For election to write off organization cost in first year (less than $5000), I don't see an election option in ATX Fixed Assets or on the Elections tab.  4562 instructions say no statement is required.  Do we just enter it as an expense with no 4562 and no entry in ATX Fixed Assets?

 

[Abby Normal]

Deducting it is the election. No asset. I like to use description "Start up costs".

[Randall]

Thanks

[mcb39]

Thanks

 

Thanks!