Re: Sale of LLc in 2018

We sold our LLC in 2018. The buyer was making payments and we got the final payment in 2020 of approximately $6000.00. Where/how do we report that?

posted

This should be reported on the same form that should have been initially completed in 2018 and then in 2019. The installment sale form 6252.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

Sale of LLc in 2018