Lauriea19
Returning Member

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?