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Where can i report gains from a corporate buyout due to retirement and paid to me as multiple installments?
I was in a medical physician business partnership set up as a corporation. Upon my retirement the remaining partners are buying-out the value of my interest in this business. I will be paid over the next five years in installments starting may 2023 monthly with a first installment of 20% . The total received will be valued as greater than the capital contributions I have previously invested through my participation in this business. So I will need to report the net gain somewhere. how and where in Turbotax can I do this?
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‎February 12, 2024
9:32 PM