Question
Reporting Business Sale - Assets & Goodwill
I am working on a return where there is the sale of a sole prop/schedule c business. Asset sales with goodwill on top of the assets. I believe I have the assets entered correctly directly on the asset worksheet (date of sale, sale price, expense of sale, etc.). But wondering how I enter the goodwill? Do I need to create a new asset with $0 cost? Or is that entered separately?
Thanks!
