I sold 100% of the shares in my business, which is a small C-corp. Part of the proceeds were in cash and rest in a seller's note. First, since it it was my shares I sold do I need to report it using 1099-B or should the new owner issue it (or no one?). Then do I recognize capital gains for only the portion paid in cash and use installment sales on the remaining amount when received? And how do I get Turbo Tax to do all this?
