Hi Diane,
Thanks again for your input. I apologize for not replying sooner as I have been away.
The businees I sold is financial planning and advisory. We were not dealers or brokers, although we were appointed LPOA by some of our clients to execute ETF or mutual fund trades on their behalf with their custodian.
I am not aware of any tax law change form 2023 to 2024 and am still at a loss why the year 2 installment sale gain was subjected to the NIIT when it wasn't in 2023 (the year of disposition). Any additional thoughts?
I appreciate your interest.
