When completing Form 8594, is the value of the covenant to not compete added to the sale price then allocated to Class VI?
For example: $1,000,000 sale and $50,000 non-compete. Would the sale reported in Part I, 3 now be $1,050,000 with the non-compete allocated under Part II, Class VI and VII?
Is there a generic statement format for the attachment, or any specifications that are required on the statement?
