- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
I am an S Corporation. I sold my business in 2020 in an asset sale. I was paid for good will and intellectual property and non compete covenants. How do I record these in my turbotax 1120s tax return? I was also paid for the assets. I am recording the assets as sales resulting in a 4797 form. Is this correct? I recorded the sale on form 8594.
Ed
‎January 15, 2021
11:20 AM