Thanks. I am buying a book of insurance business and paying 50% in 2025 and 50% in 2026.
The seller, my partner, is doing both a 8594 and 6252. Do I need to do a 6252 as a buyer? Why do I have to file a 1040X when there are no changes? I am confused on that part.
I figure I will just print out the TurboTax and then attach forms to it. My main concern is I have put the 50% of purchase price (2025) in as commission paid as I don't see anything else to put it to get a proper cost. Do you know if there is another place to put it?
Kent
