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Corporation purchases another corporation. Not subsidiary. Loan taken to pay cash for 1/2 purchase price.Would this be an Intangible asset and amortize it on ProSeries?

jctax
Level 2
 
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TaxMonkey
Level 8

If a corporation purchases the stock of another corporation, it is not amortizable.  If they purchased the assets, there is likely to be some physical assets, but may also be some intangibles, like good will.

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TaxMonkey
Level 8

If a corporation purchases the stock of another corporation, it is not amortizable.  If they purchased the assets, there is likely to be some physical assets, but may also be some intangibles, like good will.

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