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Sale of business goodwill subject to net investment tax?
Do I enter the goodwill sale info Form 8949 (just say Goodwill, provide any other info?) First time for me! How do I avoid it being subject to the investment tax?
TaxGuyBillAnswer
January 8, 2023
Generally, the sale of a business asset (such as Goodwill) is reported on Form 4797, not 8949.
If I remember correctly, if the person was actively involved in the business, you need to manually make the NIIT adjustment on line 5b of Form 8960.
