In 2020, I sold my dental practice and would like more specific information on the disposition of assets. There are many small business owners asking how to report the sale of their businesses on TurboTax and few satisfactory answers.
This is not an installment sale. The entire transaction took place in Sept, 2020. I have a 8594. These are not real numbers but should be useful to illustrate what needs to be done by anyone kind enough to reply: Class I,II,III are all zero. Class IV,V are $10,0000. Class VI,VII combined are $100,000.
Specifically, how are these numbers moved to schedules C,D. What other forms or schedules are needed?
Thanks!
