Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 01-24-2011, 01:43 PM
Junior Member
 
Join Date: Jan 2011
Posts: 1
Where to put pre-LLC expenses?

A friend and I currently have day jobs, but one day had a great idea to start an endeavor together. We started a website, registered domains, applied for patents and trademarks (+ legal fees), bought demo hardware, and traveled to meetings in an effort to try and sell our idea/intellectual property.

An outcome of one of the meetings was to form an LLC to make it legitimate. So we did.

Since we have formed the LLC, we have had no activity (income or expenses); therefore, for this year's taxes we were going to fill out a 1065 with all $0s.

Question 1: Can we expense/deduct our pre-LLC expenses (~$5300)?

Question 2: If yes to Question 1, where exactly?

Thanks for any help in this matter.


Side note: In the future we antipate more legal fees, operating fees, but no income. I don't foresee any income until we sell our intellectual property or shift gears to our book writing idea.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Whose Medical Expenses Can I Include under Medical Expenses on Schedule A? presley Medical 1 03-13-2008 09:57 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.