TaxMonkey
Level 8

Allocating the purchase price among the assets is NOT something that you should be doing.  This is something that is negotiated during sale, between the buyer and the seller.  This information is also reported on Form 8594 and should be included with the tax return.

This is something you need to kick back to the taxpayer to solve.  The allocation of the sale price has tax consequences for both the buyer and the seller.