Do softcosts for construction have to be capitalized and if so what is the catagory?

Question

Do softcosts for construction have to be capitalized and if so what is the catagory?

Answer 1

I don't think they have to be, however, instead of me trying to remember my accounting from a few years ago, here's a few links that should have your answer.

NY CPA paper

http://www.nysscpa.org/cpajournal/old/15...

Accounting for fixed assets

http://www.hud.gov/offices/reac/pdf/gaap...

Definitions

http://www.ventureline.com/glossary_S.as...

Valuation of expenses

http://www.orps.state.ny.us/sas/valuatio...

Hope that helps!