Admission of New Partner - Goodwill Method

Once the goodwill is debited as an asset on the books, and allocated/credited to the old/existing partners, when a new partner is admitted using the Goodwill Method ... is that goodwill amortizable over 15 yrs just like any other section 197 intangible?

Thanks

You can't create amortizable basis out of a bookkeeping entry.

Here's a longer answer. https://www.forbes.com/sites/anthonynit ... 57a83d5a23

There's also this. viewtopic.php?f=8&t=6785&p=65406&hilit=book+up+book+up#p65406