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Sale of llc interest

I have the Sale Price but how to I find out the Selling Expense ?

1 Best answer

Accepted Solutions
PatriciaV
Employee Tax Expert

Sale of llc interest

Yes, when you sell your interest in a company, selling expenses are typically reported on the closing documents. These expenses include commissions and legal expenses. If you need help determining what selling expenses you may have paid, check with the attorney who prepared the sales agreement.

A quick way to know if you paid selling expenses is to subtract the proceeds you received from the sales price. If those two amounts are the same, you had not selling expenses.

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1 Reply
PatriciaV
Employee Tax Expert

Sale of llc interest

Yes, when you sell your interest in a company, selling expenses are typically reported on the closing documents. These expenses include commissions and legal expenses. If you need help determining what selling expenses you may have paid, check with the attorney who prepared the sales agreement.

A quick way to know if you paid selling expenses is to subtract the proceeds you received from the sales price. If those two amounts are the same, you had not selling expenses.

**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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