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Intangible Personal Property

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Intangible Personal Property
Property, other than real property, with no intrinsic value; its value lies in the rights conveyed. Examples include cash, insurance, stock, goodwill, and patents.


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So the extent to which the purchase price can be allocated to tangible and intangible personal property can have a big impact on your tax bills.
Since there are no restrictions as to where the intangible personal property may be used, and the property is not considered intellectual property (nor the provision of a service), the American customer is subject to G.
1031 (a)-2(c) two-prong test is met, concerning the nature or character (1) of the rights involved and (2) of the underlying property to which the intangible personal property relates.
 
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