1099 for value of book of business

[Blue Sky]

What deduction for tax purposes can be applied to a 1099 issued by a parent company transferring the value of book of business to me, based on an assigned value? Self employment tax is being calculated on the full amount.  How do I treat this?

[AmeliesUncle]

Are you an Independent Contractor that works for the business that gave you the 'book of business'?

By 'book of business', is this essentially a list of clients that now belong to you?

[Blue Sky]

Yes, 1099 contractor and yes the list of clients now belongs to me, and a 1099 was issued to me for the dollar value they equate to.

[AmeliesUncle]

Yes, self employment tax applies, just like any other income that your business receives.

You can "amortize" the cost over 15 years.  That should be in the depreciation/asset section.