My business partner and I sold our S corp in 2019, and I will be receiving payments over 5 years. A portion of the 2019 payments flowed through the final k-1 and all expenses were applied against those amounts. The balance of my 2019 payments were paid to me directly and the buyer has issued a 1099-Misc for those amounts. The accountant for my prior company has told me that those payments and all future amounts are long term capital gains. how do I reflect that in turbo tax?
