Which one of the following is a Section 197 intangible?

Question

Quizplus · Accepted Answer

Goodwill is considered a Section 197 intangible, as it is an intangible asset that is associated with the goodwill of a business and can be amortized over a 15-year period for tax purposes. Choice A is incorrect as computer software available for purchase by the general public is not considered a Section 197 intangible. Choice B is incorrect as a building is considered real property and not an intangible asset. Choice C is incorrect as a stock investment is considered a capital asset and not an intangible asset. Choice D is incorrect as an interest-earning certificate of deposit is considered a financial asset and not an intangible asset.

Which One of the Following Is a Section 197 Intangible