I am iness as an independent contractor in 1969, developed a devoted following, and am nowNOT selling land or any other hard asset! My question is why, therefore, is Turbo Tax using 4797 instead of Schedule D? There is no depreciation either. I started working in the business in 1969, developed a strong client following, and am now "passing the torch" to a highly qualified person whom I trust will treat them right. Rather than pay me an individual referral fee, she is paying me a lump sum in 3 installments.
