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Business & farm
Below are more details in regards to my situation.
Bought small business by paying for goodwill (no real estate, only renting premises). Sold it for slight less amount of goodwill. Was amortizing it on taxes so I had a gain due to goodwill depreciation recapture (form 4797). This gain is being taxed at ordinary tax rate (no real estate). Can I include this gain along with business income to calculate QBI?
There was no gain related to inventory or equipment. Sorry, technical details confuse me.
‎June 15, 2022
5:59 PM