The Charles Schwab Corporation v. Commissioner

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March 9, 2004

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6211 Security Brokers, Dealers, and Flotation Companies
523120 Securities Brokerage
federal taxation
income tax
The Charles Schwab Corporation v. Commissioner
122 T.C. No. 10, 2004 U.S. Tax Ct. LEXIS 10
US
Federal Court
United States Tax Court
Erin M. Collins, Glenn A. Smith, Laurence J. Bardoff, Rebecca T. Hill
J. Henry Knoblick (for Charles Schwab) <br> Lee B. Shepard (for IRS)
Gerber

Summary

Petitoner demonstrates it could determine the useful life of customer accounts it acquired after purchasing "Rose & Co." and therefore amortize them.
The Charles Schwab Corporation v. Commissioner
PDF, Size: 72 KB

See Also

Valuation of Acquiree’s Customer Accounts Using Acquirer’s Data Upheld

Legal and Court Case Update
June 2004

Charles Schwab amortized the customer accounts that it had acquired through a merger. The Commissioner challenged the amortization and this suit followed.