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I sold my my small business in 2021, it was an S Corp but we sold only assets, not stocks. How do I report this in TT?
When I enter the K1 info, I keep getting asked info that I should need to. It asks if the biz ended in 2021 (Yes) then asks about the S Corp disposal I'm not sure how to answer. Does this part pertain to the stocks? I enter the K 1 info and the sale amount in Box 10 (Other income) with the code H. It keeps asking for details on the code H. My CPA told me I shouldn't need to answer that screen since I only sold the assets. Should I be reporting this another way?
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‎February 24, 2022
10:28 AM