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Goodwill depreciation

sffdib
Level 4

I am entering Goodwill in the asset entry worksheet. I entered description, dates, costs and type of asset as L Amortizable intangibles. Nothing happens. Where do I enter 15 years, how does ProSeries calculate the deprecation? 

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5 Replies 5
dkh
Level 11

at the bottom of the asset entry worksheet is a place to enter the Recovery Period

sffdib
Level 4

I did not see it. But I entered 197 under IRC section under which intangible asset cost is amortized, checked Asset Life History and it it shows 15 years next to life. I am not sure if this is way to get it done. 

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dkh
Level 11

Is there an amortization total flowing to the F4562 page 2 at bottom    ?

sffdib
Level 4

Yes

dkh
Level 11

Sounds like you got it to work properly 🙂