Bluesky Assignment – Goodwill in a car dealership sale
The IRS defines goodwill as “the value of a trade or business based on the customer’s expected continued patronage due to name, reputation, or any other factor.” IRS Publication 535: Business Expenses, Chapter 9, Cat. No. 15065Z. The American Society of Appraisers defines goodwill as: “that intangible asset that arises as a result of name,