The sale of goodwill is really the sale of a business asset. But since you don't have a business listed in your 1040 (Sch C or Sch E), you can
enter the sale of goodwill (an intangible) as the sale of an investment. Report the sale
in TurboTax, using these steps:
- Click on Federal > Wages
& Income
- In the Investment Income
section click on the Start/Revisit box next to Stocks, Mutual
Funds, Bonds, Other. [See Screenshot #1, below.]
- If you have already entered
some investment sales, you will see a screen Here's the investment
sales info we have so far. Click on the Add More Sales
link. [Screenshot #2]
- If you haven't already
entered some investment sales, you will see a screen Did you sell any
investments in 2017? Click the Yes box.
- On the screen, Choose the type
of investment you sold, mark the button for Everything else and
click Continue. [Screenshot #3]
- On the next screen, Some Basic Info About This Sale, enter
the sale information. Be sure to enter the NET proceeds.
[Screenshot #4]
- Continue through the screens,
entering the requested information.
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