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Re: I joined a well established group: can I amortize goodwill for my taxes?

This depends on how the entity is set up. If the entity is a Corporation or an S-Corporation, the money you paid would most likely be considered your basis in the stock.

If the entity is a partnership, and a portion of the purchase price were allocated to Goodwill, then you should be able to amortize the goodwill over 15 years. I've seen more deals lately that split out the goodwill on these buyins.

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