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n a generic term that includes various specific practices, such as depreciation, depletion, write-off of intangibles, prepaid expenses, and deferred charges.
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Any corporation that purchases or otherwise acquires intangible assets must answer the question of whether to amortize them.
A bank that acquires the right to service loans and sue escrow funds can amortize the value of the right because loans have a definite life span.
For taxable bonds issued after July 18, 1984 and/or purchased after April 30, 1993 (and for tax-exempt bonds purchased after April 30, 1993), the taxpayer may elect whether to amortize the market discount on an annual basis (under Sec.
461(g)(2) merely provides that the general requirement to amortize prepaid interest does not apply to points paid on qualifying debt incurred to purchase or improve a principal residence.
While the last exception is beyond the scope of this article, it generally allows a buyer to amortize a Sec.
195 provides that no deduction is allowed for start-up expenditures unless the taxpayer elects to amortize the expenditures.
For example, a corporation might claim a refund for tax years in which it followed the Service's position and accordingly did not amortize such loan costs.
Under this section, the lessee can assign a cost to the acquired lease and amortize it.
The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.
9% of personal income, and 66% of general revenue fund-supported debt amortizes within 10 years.
The 12year refinance loan amortizes on a 30-year schedule.