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Old 04-08-2014, 02:05 PM
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New LLC, how do I file the incorporation fees on the 1065?

We are filing a 1065 for the first time after forming a 3 person LLC. Our only real expense is having about $300 in incorporation fees. So the question is how to file this:

- Is this deducted in Schedule K of the 1065 on line 13d as an "Other Deduction"? If so, what type code is it? I'd guess L.
Portfolio (2% floor) (code K). Enter deductions related to portfolio income that are subject to the 2% of AGI floor
Portfolio (other) (code L). Enter any other deductions related to portfolio income.

- Or, do we file the incorporation fees as a capital loss, on line 7, of the Income Section (Section 1) of the 1065?

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