Technical topics regarding tax preparation.
Do I Need a 3115?
Post a reply

6-Jul-2022 7:50am

New 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!
Post a reply