Strongsilence-C PA
Level 10
10-09-2023
05:17 PM
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CCH has little guidance on point. From what I have read an impairment (GAAP term) or write off depends on the facts and circumstances. The facts seem to support a write off in 2022 because of the retirement of the assets, the lack of paying liabilities in the 2nd half of 2022, and the inattention to business by the shareholder.