I have a question about how to present capitalized start up costs for a corporation.
I have a client with over $200K of various expenses incurred in 2017. The client and I have determined they were still in start up as of 12/31/17, therefore all of these expenses will be capitalized.
Should I show each of these various deductions on the 1120 and then back the total out as a negative expense in "Other deductions"? Or should I not present any deduction for what is being capitalized.
My gut says the latter is correct. However, my client wants the former. I am inclined to give the client what they want.
Anybody have any thoughts on the tax return presentation?