Do I Need a 3115?
Posted: 6-Jul-2022 7:50amNew client. Formed an S Corp and purchased the assets of a business in 2019.
The purchase price was $700K split:
$560K - Goodwill
$140K - FFE
The previous accountant prepared 2019 and 2020 showing amortization of the entire $700K as if it was goodwill.
I want to correct the depreciation/amortization.
Can I amend 2019 and 2020, or do I need to file a 3115?
Thank you!
The purchase price was $700K split:
$560K - Goodwill
$140K - FFE
The previous accountant prepared 2019 and 2020 showing amortization of the entire $700K as if it was goodwill.
I want to correct the depreciation/amortization.
Can I amend 2019 and 2020, or do I need to file a 3115?
Thank you!