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It was an asset purchase only. According to their sales agreeement, everything was allocated to Goodwill of $500k
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He sold it all. A company with a separate EIN purchased the business and all its assets.We are preparing his business return as well and marking it as final ret...
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He sold it all! He no longer owns the S Corp, nor its assets.
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I have a client who sold his business, LLC-tax class S Corp. I'm preparing his personal tax return now. I have entered in the amount that he sold the business f...
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Client received a 1099-R with Box 1 and Box 2a filled in (both have same amount).Client says that the money was rolled over into another IRA (indirect rollover)...
