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Level 1
December 7, 2019
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In a bulk sale of business corp assets will FAM kick out a report to use or will FAM export gain/loss into corp tax return?

  • December 7, 2019
  • 1 reply
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Best answer by IRonMaN

I don't use FAM, but if you are looking at a bulk sale and you have a lot of assets, you are going to have a lot of work ahead of you because you will have to allocate a portion of the bulk sale to individual assets.  I think a lot of us tend to manually group like assets together and load in totals for cost and accum depreciation into to the tax software.

1 reply

IRonMaN
IRonMaNAnswer
Level 15
December 7, 2019

I don't use FAM, but if you are looking at a bulk sale and you have a lot of assets, you are going to have a lot of work ahead of you because you will have to allocate a portion of the bulk sale to individual assets.  I think a lot of us tend to manually group like assets together and load in totals for cost and accum depreciation into to the tax software.

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