CPA17
Level 2
02-11-2020
12:23 PM
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Trying to prepare final form 1065. There is unamortized goodwill and closing costs on the books. Should I just amortize the entire leftover portion in the final return? Pro-series is calculating only current year portion only. Please advise.
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sjrcpa
Level 15
02-11-2020
01:09 PM
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The goodwill was "sold" on the last day of the entity.
The more I know the more I don’t know.
CPA17
Level 2
02-11-2020
02:23 PM
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Thanks for the response. that means, goodwill loss will go to form 4797 as trade or business loss. Only startup cost needs to be force amortize. Am I right?
Thank you!!
