Your facts don't appear to be consistent:
- You indicate that it was recorded when you purchased the business
- In another response you indicate it was recorded when you had a reorganization
- These two items generally have different consequences. This may be semantics, but it is important to understand.
- What type of business entity are we dealing with
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
