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nam1
New Member

How would an s corp record the sale of a lease? The business was closed and the lease was transferred to another business. Should it be included in the business income?

 
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MinhT
Expert Alumni

How would an s corp record the sale of a lease? The business was closed and the lease was transferred to another business. Should it be included in the business income?

If the lease transfer was done for compensation, that compensation must be reported as business income.

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MinhT
Expert Alumni

How would an s corp record the sale of a lease? The business was closed and the lease was transferred to another business. Should it be included in the business income?

If the lease transfer was done for compensation, that compensation must be reported as business income.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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