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Arthur Rubin
Arthur Rubin, Tax Preparer
Category: Tax
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Experience:  22 years of tax preparation experience, including individual, trust, and estate returns.
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I started a photography business this year as a sole proprietor.

Resolved Question:

I started a photography business this year as a sole proprietor. I would like to deduct my $5,000 start-up costs, but cannot figure out how to do this - I have looked at the Schedule C and the Form 45** (the depreciation form) and am totally perplexed. Do I list it as an "other" expense? Or do I amortize it for one year? Please let me know exactly which form I use and which line...Thank you so much.
Submitted: 4 years ago.
Category: Tax
Expert:  Arthur Rubin replied 4 years ago.
Thank you for using Just Answer.

"Other" on Schedule C sounds good to me.

If you have more than $5000 in startup expenses, you should attach a separate schedule, and refer to it both for the $5000 startup expenses in the "other expenses" section of schedule C and the 4562.

If your total startup expenses are $5000 or less, you can attach a separate schedule as noted above or you can have separate line items for each type of startup expense in the "Other expenses" section.

The Schedule C instructions state it should be in the "other expenses" section, and the form 4562 state you report additional business startup expenses quoting section 195, with an amortization period of at least 180 months.
Customer: replied 4 years ago.

Do you have the page or section of the Schedule C instructions where it says the expense should be in the "other expenses"? No worries if you don't, I will accept answer anyway, but I would love the reference....

Expert:  Arthur Rubin replied 4 years ago.
Actually, I found that one. For 2009, it's on page C-8 in near the middle of the rightmost column; in Part V (Other expenses), paragraph "Business start-up costs".
Arthur Rubin, Tax Preparer
Category: Tax
Satisfied Customers: 1233
Experience: 22 years of tax preparation experience, including individual, trust, and estate returns.
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