The U.S. Internal Revenue Service generally requires you to amortize intangible assets, or Section 197 intangibles, over 15 years (180 months). Use this template to calculate the asset amortization for each period. The number of months in the first period is based on the acquisition date and your fiscal year, and no amortization is allowed for the month the asset is disposed of.
What is Section 197 intangible ?
Section 197 intangibles are certain intangible assets acquired after August 10, 1993 (or after July 25, 1991, if chosen) in connection with the acquisition of a business which must be amortized over 15 years from the date of acquisition regardless of the assets useful life.
This template in excel helps you compute the depreciation of your intangible assets.
