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Business & farm
You are still selling a business asset and it must be reported as indicated. It's understood there is no depreciation or amortization because you created the book of business. Simply leave that field blank. Make sure you enter a date acquired when you started the business or a later date if you choose, assuming you had the business long term. Likewise cost would be zero because you created the book and did not buy it.
This will end up on Schedule D after Form 4797 (for sale of business assets).
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‎April 16, 2025
7:46 AM