Which of the following intangible assets is not amortizable for tax purposes?
A) Organizational costs
B) Patent with a 12-year remaining life
C) Partnership interest
D) All of these assets are amortizable for tax purposes

Question

Which of the following intangible assets is not amortizable for tax purposes? 
A) Organizational costs
B) Patent with a 12-year remaining life
C) Partnership interest
D) All of these assets are amortizable for tax purposes

Quizplus · Accepted Answer

Partnership interest is not amortizable for tax purposes as it is not considered as an intangible asset by the IRS. Organizational costs and patents are both amortizable over their useful lives for tax purposes, but a partnership interest does not fall under the category of assets that can be amortized through tax deductions.

Which of the Following Intangible Assets Is Not Amortizable for Tax