Business & farm

Click the Federal Taxes tab and then click Income.

 

In the Dispose of Business Property section click Business property/assets and then click Start (or Update).

 

Add an asset (e.g., the Section 197 intangible) providing a description and the date of purchase.

 

On the next screen select Other and then select Amortizable intangibles on the following screen.

 

Enter the amount you paid for the asset ($30k) and then select 197: Section 197 intangibles on the next screen.

 

 

View solution in original post