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I have a schedule C client who sold his business on an installment contract. I'm getting a little confused on how to enter the info. He sold all assets Section 1245, 1250 and Goodwill (section 197). Total sales price was $800k with $300k down and the $500k paid off on installment. I have found links on how to enter bulk sales and links on how to do intallment sales but I'm looking for the best way to enter this sale based on this information. Because of the different asset types....its a little confusing. Any help would be greatly appreciated.
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Posting one more time hoping for some help...thanks
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"Posting one more time hoping for some help."
When one of the peer users that volunteers to be helpful, sees your topic and can be helpful, you will get a reply. Until then, updating or asking again won't really speed up the process. Remember, everyone else is also Busy doing their work for their own clients.
Don't yell at us; we're volunteers
