LSTAX
Level 4

Bought a company in an asset purchase in 2019 - How do you book the assets and goodwill on the depreciation screen  22 in Lacerte if half was paid in 2019 and the remainder is to be paid in future years?  Say the assets/goodwill  total $100,000 and you paid $50,000 down but the price may be re-negotiated next year.  What is the correct way to handle on a tax return?

Thank you

 

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