yeknod
Level 3
03-22-2023
02:37 PM
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Taxpayer sold business for $500K and assets have been fully Depr'd. Let's say $400K is goodwill and $100K is purchasing the assets.
How do I account for the $400K in the goodwill purchase on the taxes? There was no goodwill on the books. This was the original company that started the business.
Thanks in Advance!
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