A Partnership Can Elect to Amortize Organization and Start-Up Costs;

question 127

True/False

A partnership can elect to amortize organization and start-up costs; however, syndication costs are not deductible.

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Definitions:

Entity Partnership

A business structure where two or more entities join together in partnership to conduct business.

Limited Liability Company

A corporate framework that merges the tax benefits of a sole proprietorship or partnership with the protective limited liability found in a corporation.

Sole Proprietor

The single person at the head of a sole proprietorship.

Cooperatives

A business organization owned and operated by a group of individuals for their mutual benefit.