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How to write off the purchase of a client list

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Level 1

I am buying a list of clients to service in my financial services practice. How do I write off, depreciate or amortize the purchase?

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Level 15
Level 15

I've never actually had one of these, but Section 197 intangibles get amortized.

https://www.irs.gov/publications/p535#en_US_2019_publink1000208966


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Level 2

Client lists are amortizable, starting with the month of purchase.  They have a 15 year life from that

date.  Therefore, you would take straight-line amortization expense.