Question
Purchase and sell a salon
I have a client who purchased a nail salon and opened LLC for her nail salon in Jul 2022 . She operated it from Jul to Nov 2022, then sold it in Dec 2022.
The purchase agreements show the lump sum sale price. She purchased the salon $15k, then sold it to another one with $30K.
Can you please advise how to report the purchase price when she bought her salon ($15k) and the selling price ($30K)when she sold it in proseries. Thank you!
