david3
Level 7

Thank you for helping with this.

It's an asset sale with a partial payment and a buyer note.

The purchaser is buying AR (seller uses the accrual basis), inventory, fixed assets, and goodwill, customer/vendor list, digital art, and domain name. There is a lump sum total for the goodwill and other intangibles. The other intangibles are not on the seller's balance sheet.

I already entered the sale of fixed assets on each asset's disposition section.

I think I am getting hung up on everything being included in the gain - AR, inventory, and goodwill. That's why I was asking where these items are reported in PS so that the K-1 includes the correct information for the gain from the asset sale. Also, that the Form 6252 includes the correct profit %.

I appreciate your help.

0 Cheers