Medinazs
Level 1
09-29-2020
01:46 PM
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I have a customer who sold her donut shop back in October, Where on the 1040 and what schedule would I report the amount she received for the sale between buyer and seller only, no escrow involved. I noticed there is line 5 and line 6 on Schedule C, but im not sure if I should report this income received for the sale of the business in this lines. The business was opened in 2016 and sold in 2019. Thanks
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