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Deductions & credits
Unless you converted the property into a day care business and it is no longer a personal residence you will not sell the building itself as a business.
If you have been filing the business on the Sch C then you may be able to sell the sole proprietorship totally separate from the actual home if this has also been your residence.
I highly recommend you seek local professional assistance BEFORE you do anything.
If you have been filing the business on the Sch C then you may be able to sell the sole proprietorship totally separate from the actual home if this has also been your residence.
I highly recommend you seek local professional assistance BEFORE you do anything.
‎September 22, 2019
6:46 PM