Answer :
Final answer:
The amortization period for a §197 intangible is 15 years, and it begins with the month the intangible is acquired, irrespective of its actual useful life.
Explanation:
The amortization period for a §197 intangible, despite the actual useful life being less than 15 years, is 15 years, beginning with the month the intangible is acquired. Section 197 of the Internal Revenue Code provides a uniform amortization period for various types of intangible assets, including goodwill, going-concern value, and other intangibles that are acquired in connection with the acquisition of a business. This means that the cost of these intangibles is written off evenly over 15 years for tax purposes regardless of their actual useful life.
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