Cancelled installment loan - Goodwill purchase

Technical topics regarding tax preparation.
#1
IDCPA  
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I'm getting ready to record COD income on a client's books, but I'm wondering if there's any chance the cancellation of the balance of the debt used to purchase Goodwill a few years ago, could/should instead reduce said Goodwill. Ultimately the Goodwill wasn't purchased for as much as initially believed, would be the rationale.

I think this is a simple COD situation but I wanted inquire to see if what I've proposed is an option.
 

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