On September 30, 2015, Priscilla purchased a business. Of the purchase price, $178,000 is allocated to a patent and $1,068,000 to goodwill. The 2015 §§197 amortization deduction is $

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 28CE
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On September 30, 2015, Priscilla
purchased a business. Of the purchase
price, $178,000 is allocated to a patent
and $1,068,000 to goodwill. The
2015 §§197 amortization deduction is
$
Transcribed Image Text:On September 30, 2015, Priscilla purchased a business. Of the purchase price, $178,000 is allocated to a patent and $1,068,000 to goodwill. The 2015 §§197 amortization deduction is $
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