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Patent expenses deductible?

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mike-juno

Junior Member
Arizona

I'm spending money on a patent application. Are the legal and other fees deductible? I paying these fees out of my own pocket- not business expenses.
 


LdiJ

Senior Member
Arizona

I'm spending money on a patent application. Are the legal and other fees deductible? I paying these fees out of my own pocket- not business expenses.
You will have to amortize the expenses, over the life of the patent.
 

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