The date each expense was incurred. The month the partnership began its business. A cash basis partnership must also indicate the amount paid before the end of the year for each expense. Chargeable to a capital account, and The type that would be amortized if they were incurred in the creation of a partnership having a fixed life. In addition, the expense must be for creating the partnership and not for starting or operating the partnership trade or business.
Organization expenses that can be amortized include the following.
Legal fees for services incident to the organization of the partnership, such as negotiation and preparation of a partnership agreement. Accounting fees for services incident to the organization of the partnership. Expenses not amortizable. Acquiring assets for the partnership or transferring assets to the partnership. Admitting or removing partners other than at the time the partnership is first organized.