Depends on whether the customer list would fall under Section 1221(a)(3). The last sentence of Regs. 1.1221-1(c)(2) suggests a customer list probably doesn't meet the definition, so it would still be a capital asset.
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Matthew E. Rappaport, Esq., LL.M.
Vice Managing Partner
Chair, Taxation Group
Falcon, Rappaport & Berkman PLLC
(516) 558-3377
mer@frblaw.com------------------------------
Original Message:
Sent: 11-16-2020 01:43 PM
From: Jonathan Ehrlich
Subject: TAX TREATMENT OF THE SALE OF A CUSTOMER LIST
Did the TJCA take away the ability to treat the sale of a customer list as a capital gain?
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Jonathan Ehrlich
EHRLICH & COMPANY, CPAs LLP
Jericho NY
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