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S
susanmcl
Level 2
January 12, 2022
Question

Selling a business C corporation

  • January 12, 2022
  • 2 replies
  • 0 views

I have a client selling a motel for $5.8M.  His asset schedule contains hundreds of assets.  How can I report this sale without marking each asset separately within Fixed Asset Manager as sold? I would like to be able to use FAM for this return if possible.

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2 replies

J
jeffmcpa2010
Level 10
January 12, 2022

Is he selling the Corporation (ie the Stock) or is the corporation selling it's assets?

    S
    susanmclAuthor
    Level 2
    January 12, 2022

    He's selling the assets...I know, he shouldn't have done that, but I wasn't involved!  He intends to keep the business open for further ventures.

      dkh
      dkh
      Level 15
      January 12, 2022

      I haven't used FAM for several years but I believe there is an option to do a Bulk sale.   However, first review @jeffmcpa2010  question because you said they are selling C Corporation

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