Hello,
I have the exact scenario you describe in your answer. I have a single member LLC (sole proprietorship for tax purposes) that I sold off a web-based software product to another company, but I still kept my LLC and use it for other business. How would I account for this? It seems Form 8594 is only used for selling all the business's assets and shutting it down. Do I still use Form 8594 to report selling the software product/brand?
