Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. which of the following is not correct with regard

Which of the following is not correct with regard to IRC 197 intangibles? Amortization is...

70.2K

Verified Solution

Question

Accounting

Which of the following is not correct with regard to IRC 197 intangibles?

Amortization is subject to recapture as IRC 1245 property upon a taxable disposition.

The use of any recovery method other than straight line is not allowed.

The cost is amortizable over 15 years.

Amortization begins in the month of acquisition.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

How do Positivist’s and their perspective with anomie strain theory explain and analyze crime (specifically THEFT) Answer questions...

Psychology
Q

Complete the sentence below.The polynomial 2x5 -3x4 + 12x3 - 2 is of degreeThe leading...

Basic Math
Q

Find the average value of f x on the interval 3 6

Calculus
Q

A company reports net income of $250,000. The return on assets for the year is...

Accounting
Q

In October, Carla Vista Company reports 18,700 actual direct labor hours, and it incurs $161,600...

Accounting
Q

You are a supply manager for a major distributor. The CEO has strongly encouraged that...

Accounting
Q

Enter the missing dollar amounts for the income statement for each of the following independent...

Accounting
Q

Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on...

Accounting
Q

Required information The followina information opplies to the questions displayed below] Ramirez Company instalis a...

Accounting
Q

Which of the following malysis methods for culpting wes oral counting tres? A. Peyhack BARR...

Accounting
Q

Fill in the areas in red then work on the question Enter your age here:...

Finance
Q

14. Determine the initial markup percent which will be required to achieve a 5.2% profit....

Accounting