If the Total Amount Paid for a Business Is Greater

Multiple Choice

If the total amount paid for a business is greater than the sum of the net fair market values of the assets of the business, the excess

A) Is currently deductible.
B) May be amortized over the period of 15 years.
C) May be characterized as goodwill and amortized over a period of not more than 60 months.
D) May be allocated to a noncompetition covenant and amortized over the period of time of the covenant.
E) Is never deductible.