Capital Gains & Losses

Goodwill - amortizable basis


The cost of business intangibles such as Goodwill, covenants not to compete amounts, trademarks are amortized over a 15 year period.
Most intangible assets are expected to benefit more than one year, so their cost is a capital expenditure under Internal Revenue Codesection 167 (depreciation), the primary authority for deducting intangibles
Answer Provided by: CPAdirectory

Share This Answer

Looking For More?

View all Capital Gains & Losses Questions

View More Questions