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Sale of Intangible Asset
I have an intangible asset (limited entry fishing permit) that I sold in 2024. It was not fully amortized prior to the sale. I believe the asset requires "special handling" since it is not a 1245 property (correct me if I am wrong). I initially selected "No" for special handling and got errors later down the road under the review process, which makes me think I should select "yes" for special handling. However, after I do so, I am only given this year's depreciation deduction amount and nowhere does it ask me how much I sold the asset for or where to enter the sale. So where do I enter the sale of this asset? Thanks in advance.
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‎February 24, 2025
7:49 AM