99mtamchamp
Level 2
07-02-2020
11:27 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
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.
Labels