What happens to unused amortization of an intangible asset (goodwill) when my business closes? This is for an S Corp.
I purchased an intangible asset in 2007 for 50,000 and have been amortizing it over 15 years ($3,333) per year, I have 2 years left. I closed business at the end of 2019. Can I use the additional $6,666 of amortization in 2019?
If not can I continue to submit a 1120-s for the next two years for this business and get a loss on my K-1?
