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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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  • Um - don't forget with many things now you are allowed to just take it as one expense all at once. Gone are the days of slowly writing-off computers,. etc. And don't forget the old trick that if you bought the thing "for a certain project", a certain job, of course it's just a plain cost that year, there and then. – Fattie Mar 13 at 22:43

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