I have a business tax question. What is the tax effect on derecognition of a business purchase that was purchase in year 1 with a seller finance obligation, amortized/depreciated in year 1, 2, and 3 by the buyer but because of a buyer/seller dispute the buyer refused to pay the seller and at that time simply removed the obligation and asset that was amortized/depreciated for tax purposes in prior years? The buyer still operate the business and building. Should the accumulated amortization and depreciation be written off to the P&L and considered as a recaptured capital gain? Does it have a tax effect? The business did not receive a debt forgiven? How should this transaction be handle for book accounting and tax purposes?