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How do I record a business sale with goodwill?
I sold my business (single owner LLC) for $60K including 45K allocated to goodwill while cost of inventory and leasehold improvement is $100K. Should I record business sale as $60K and Cost as $100K without depreciation expense (form 4797). Where would I show goodwill? and would this be a correct presentation?
‎July 12, 2020
1:39 PM