Which of the following capitalized cost is not amortizable for tax purposes?
A) Purchase cost of a partnership interest
B) Purchase cost of business goodwill
C) Leasehold cost
D) Purchase cost of a patent

Question

Quizplus · Accepted Answer

Purchase cost of a partnership interest is not amortizable for tax purposes, as it is considered an investment in the partnership rather than a depreciable asset. The other options listed (goodwill, leasehold cost, patent purchase cost) are all amortizable for tax purposes.

Which of the Following Capitalized Cost Is Not Amortizable for Tax