Code Section 197

Section 197 intangibles generally you may amortize the capitalized costs of section 197 intangibles see section 197 intangibles defined later ratably over a 15 year period.

Code section 197. Amortization of goodwill and certain other intangibles on westlaw. The amortization deduction under section 197 is determined by amortizing basis ratably over a 15 year period under the rules of paragraph f of this section. You must amortize these costs if you hold the section 197 intangibles in connection with your trade or business or in an activity engaged in for the production of income.

The amount of such deduction shall be determined by amortizing the adjusted basis for purposes of determining gain of such intangible ratably over the 15 year period beginning with the month in which such intangible was acquired. For more detailed codes research information including annotations and citations please visit westlaw. Internal revenue code 197.

Amortization of goodwill and certain other intangibles text contains those laws in effect on september 27 2020. From title 26 internal revenue code subtitle a income taxes chapter 1 normal taxes and surtaxes subchapter b computation of taxable income part vi itemized deductions for individuals and corporations. You must amortize these costs if you hold the section 197 intangibles in connection with your trade or business or in an activity engaged in for the production of income.

A taxpayer shall be entitled to an amortization deduction with respect to any amortizable section 197 intangible. A taxpayer shall be entitled to an amortization deduction with respect to any amortizable section 197 intangible. These intangible assets must usually be amortized over 15 years.

1 when resisting any attempt to murder any person or to commit a felony or to do some great bodily injury upon any person. Section 197 amortization rules apply to some business assets but not to others. The irs designates certain assets as intangible assets under section 197 of the internal revenue code.

The amount of such deduction shall be determined by amortizing the adjusted basis for purposes of determining gain of such intangible ratably over the 15 year period beginning with the month in which such intangible was acquired. California penal code section 197 ca penal code 197 2017 homicide is also justifiable when committed by any person in any of the following cases. Section 197 intangibles are certain intangible assets acquired after august 10 1993 or after july 25 1991 if chosen in connection with the acquisition of a business which must be amortized over 15 years from the date of acquisition regardless of the assets useful life.