Section 59 E 2 Expenditures

Section 59 e 2 expenditures on an attached statement the partnership will show the type and the amount of qualified expenditures for which you may make a section 59 e election.

Section 59 e 2 expenditures. In the case of any taxable year of a corporation described in subparagraph c of section 59 a 2 of the internal revenue code of 1986 as added by paragraph 1 which begins after december 31 1989 and includes march 31 1990 the amount determined under. The statement will also identify the property for which the expenditures were paid or incurred. To amortize section 59 e 2 expenditures instead of deducting the entire expenditure in the current year enter the total amount as an amortizable asset on the fixed asset form.

To enter 59 e 2 expenditures do the following. Go to section 3 activity continued. The statement will also identify the property for which the expenditures were paid or incurred.

These expenses flow to their own line on the schedule e page 2 below the passthrough entity that it. On an attached statement the partnership will show the type and the amount of qualified. In line 1 j section 59 e 2 expenditures enter the appropriate data.

On an attached statement the partnership will show the type and the amount of qualified expenditures for which you may make a section 59 e election. Choose the appropriate subcategory associate the asset with the k 1 activity. Section 59 e allows any qualified expenditure to which an election under section 59 e applies to be deducted ratably over the 10 year period 3 year period in the case of circulation expenditures described in section 173 beginning with the taxable year in which the expenditure was made or in the case of intangible drilling and development costs deductible under section 263.

On an attached statement the partnership will show the type and the amount of qualified expenditures for which you may make a section 59 e election. 59 e 2 qualified expenditure. Line 13j section 59 e 2 expenditures amounts reported in box 13 code j represent a taxpayer s share of qualified expenditures that the taxpayer may make a section 59 e election for.

The partnership should provide the taxpayer with a statement that identifies the property or properties for which the expenditures were incurred or paid. Plr 107660 12 2 section 59 e 2 includes in the definition of qualified expenditure any amount which but for an election under 59 e would have been allowable as a deduction for the taxable year in which paid or incurred under 174 a relating to research and experimental expenditures. The statement will also identify the property for which the expenditures were paid or incurred.