What is the amount and nature of whiteredar

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On May 1, Whitecedar Co. acquired the assets of another business in a taxable acquisition. As part of the transaction, Whitecedar recognized $450,000 of goodwill (a Code Sec. 197 intangible) for both financial accounting and tax purposes. Whitecedar did not impair any of the goodwill for financial accounting purposes. What is the amount and nature of Whiteredar's book-tax difference associated with this goodwill in the year of the acquisition?

Reference no: EM133266773

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