unc.1   Jana a successful fashion designer decided to sell her business to Francisco. Under the terms of the sale agreement Francisco paid $15000 For the goodwill that jana had garnered throughout her career. The purchase was completed on September 9,2022. What is Francisco’s 2022 deduction for amortization? 1- $250 2- $333 3- $500 4- $1000

Individual Income Taxes
43rd Edition
ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 28CE: LO.7 On October 1, 2019, Priscilla purchased a business. Of the purchase price, 60,000 is allocated...
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unc.1

 

Jana a successful fashion designer decided to sell her business to Francisco. Under the terms of the sale agreement Francisco paid $15000 For the goodwill that jana had garnered throughout her career. The purchase was completed on September 9,2022. What is Francisco’s 2022 deduction for amortization?

1- $250

2- $333

3- $500

4- $1000

 

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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