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Get your taxes done using TurboTax
The Goodwill in question on the Balance Sheet is just generic Goodwill; i.e. I bought the assets of a company in 2016, and the part of the purchase price that wasn't allocated to equipment or fixtures was allocated to Goodwill which I have been amortizing. Your suggestion of splitting the Goodwill up seems like sound accounting, but maybe a little complex. I think you are right about contacting a tax professional. Wish there was a way to contact someone just to ask some specific tax questions and not have them do my taxes.
‎August 9, 2023
12:04 PM