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Write off fund formation costs

Having entered Fund Formation Costs during Fund Setup, you may wish to write off this Expense.

To write off this cost, choose EXPENSES from the Tab Menu.


In the FROM ACCOUNT field, select 1-1086 Fund Formation Costs.

Enter the Date and Description, then choose Account 5-1086 Fund Formation Costs Written Off in the ALLOCATE TO field.

Enter the Total Cost (the amount you entered as Fund Formation Costs during the Setup process).

When you perform Year End processing, the Written Off Fund Formation Costs amount will display in SECTION C: DEDUCTIONS.

By default, the amount will be displayed as a Deductible Amount at label L1: Other Amounts.

If you do no wish to claim a Tax Deduction for Fund Formation Costs Written Off, you can manually enter the amount in the NON DEDUCTIBLE EXPENSES column at L1. The amount in the DEDUCTIONS column will change to 0.