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depositions, admissions, and other acceptable materials, together
with the affidavits, if any, show that there is no genuine issue
as to any material fact and that a decision may be rendered as a
matter of law. Rule 121(b); Elec. Arts, Inc. v. Commissioner,
118 T.C. 226, 238 (2002). The moving party has the burden of
proving that no genuine issue of material fact exists and that
moving party is entitled to judgment as a matter of law.
Rauenhorst v. Commissioner, 119 T.C. 157, 162 (2002).
II. Amortization of Intangible Assets
Section 167(a) provides:
SEC. 167(a). General Rule.--There shall be
allowed as a depreciation deduction a reasonable
allowance for the exhaustion, wear and tear (including
a reasonable allowance for obsolescence)--
(1) of property used in the trade or
business, or
(2) of property held for the production of
income.
Section 1.167(a)-3, Income Tax Regs., which interprets section
167(a), provides:
If an intangible asset is known from experience or
other factors to be of use in the business or in the
production of income for only a limited period, the
length of which can be estimated with reasonable
accuracy, such an intangible asset may be the subject
of a depreciation allowance. Examples are patents and
copyrights. An intangible asset, the useful life of
which is not limited, is not subject to the allowance
for depreciation. No allowance will be permitted
merely because, in the unsupported opinion of the
taxpayer, the intangible asset has a limited useful
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