Tax Year Prior to 2020: We sold our business in 2019, but it doesn't fit any of the answers in Turbo Tax for business sale. How do we report the sale?

[WKins2]

What kind of business did you sell, a corporation, a partnership, was it a stock sale, an asset sale? If you can provide more of what kind of sale it was, someone will be able to guide you in how to enter it. 

[Carl]

It matters what kind of business you sold. Sole proprietoship? Single member LLC? Multi-member LLC? Partnership? S-Corp? C-Corp? It also matters "EXACTLY" what you sold. Business real estate? Physical business assets? Good will? Patent's maybe?

[HollyG]

I have the same question.

I owned a Franchise as an LLC, file as a partnership on 1065.

Sales agreement breaks out Inventory, Equipment and Goodwill and will be paid out over 42 months.

I have updated assets as sold  and it flowed to Form 4797,  added interest received this year as 'Other income', but how is the rest of the funds accounted for?  I want to see if it makes sense to do an Installment sale or take the hit now, but not sure where to enter that. 

Thanks

[dabbindan]

I'm getting nowhere trying to enter the sale of my sole propritorship small business. I indicated in "let's confirm your business info" that i sold it and that it was in 2019 and the answer to the three sale type questions was no, but i get no further prompts to enter the sale price or any other info.   many of the answers related seem to show fields that do not come up in TT2019.