What Class is consulting Income on form 8594?

Hello,

I sold my practice and the allocation included 20% Consulting. Which class does consulting go under on Form 8594?

Thanks!

225

1 Best answer

Level 15

Feb 18, 2023 7:44:06 AM

Generally, Class VI if the agreement is in the nature of a covenant not to compete. Otherwise, Class VII.

Level 15

Feb 18, 2023 7:44:06 AM

Generally, Class VI if the agreement is in the nature of a covenant not to compete. Otherwise, Class VII.