Thank you for the help! Do you have any feedback on where the other part of the sale is entered (Class VI intangibles and Class VII "goodwill") ? I read somewhere online that these are taxed at as capital gains so entered on Schedule D....but there is a lot of different advice on TT and elsewhere about how to handle a small business sale, so want to ensure I do it correctly. And if they are taxed at capital gains rate, do I list the cost basis as 0 since I started the business 16 years ago and therefore all the intangible value of the business/name/etc. has been built over time from zero? Any advice on this part would be greatly appreciated! Thanks in advance!
