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Business & farm
Correct, I do not retain any rights in business. I felt it was a franchise also by definition. Which form would that best fit? I was unsure of Form 4797 because I felt like the franchise didn't meet any of the IRS definitions or criteria. The business distributorship is more of a contract and from what I've looked at, the IRS considers it an ordinary gain. Am I incorrect?
‎September 26, 2019
1:04 PM