How to dispose of the remaining value of intangible asset? A LLC owned a franchise and was amortizing the cost over 10 yrs, however have sold the business after 5 years.

[CathiM]

You need to dispose of the intangible asset in TurboTax.  The remaining unamortized balance is the adjusted basis.  If the intangible asset is worth nothing, you put that the "selling price" was $0.  The adjusted basis, unamortized balance, becomes a loss reported on Form 4797.  In the asset section of your business, on the Tell Us More About This Asset, you have to check the box that the item was sold, stolen, destroyed, disposed of, converted to personal use, traded in, or given away.  Enter the date, and choose a code (type of intangible asset), enter the sale price as $0, and finish answering the questions to get out.