Personal Finance & Money Asked by dogpatch101 on March 30, 2021
If my SMLLC purchased an intangible asset (say a domain name for $3000) in the middle of the year (say March X, 2021), assuming we use a 15-year straight-line depreciation, can I amortize the entire worth of amortization ($3000 / 15 = $200) for the tax year of 2021, even though the domain was purchased in the middle of the year and was not used for the full year?
Thanks,
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