Where do you take the organizational expense election for a INVESTMENT partnership?

Organizational expenses of 500, do you expense on page 1 or schedule K? Partnership is based on investing in securities. Organizational expenses are accounting fees. Thanks in advance, again.

Hello, tycoon! The activities of your partnership shouldn't make any difference; start-up costs and organizational expenses are still amortized over 15 years unless you elect to write-off up to $5,000 of such expenses as an "Other deduction" on Page 1, Line 20. The Page 1 total on Line 22 will then carry over to Schedule K, Line 1 (so the start-up costs will already be included there).

Accounting fees would be be considered a start-up cost, so you would need to include an election like the one given in response in your other question, "Where to put start up expense on 1065?" (http://answers.yahoo.com/question/index?...

Again, the links below give further information. Good luck! :-)

In the first place, you say organizational expenses is accounting fees. Not so says Jo. Accounting fees are accounting fees,, and the cost to start up and incorporate the LLC is the organizational fees.
Start up cost goes in your statement for 'other expenses' and goes on pg 1 of 1065 (line 19 as I remember)
the K1 is the form that shows each partners share of profit or loss after the form 1065 is completed