Hi:
Just to follow up a bit on what the others have said. Your Sch C is to report your normal income and expenses of the business.
The sale of the business is a separate transaction that can produce two kinds of income for the seller. Ordinary income (usually recapture of depreciation...but, can include any inventory, accounts receivable that may be included in the sale)
This sale ultimately ends up on Form 4797. The sale price must be allocated to the various assets sold and gain/loss determined on the assets.
For more information, here is a link to IRS Publication 544, Sales and Other Dispositions of Assets.
https://www.irs.gov/pub/irs-pdf/p544.pdf
Good luck and stay safe....
**Disclaimer: Effort has been made to offer correct information; but due to the discussion forum limitations, the poster disclaims any legal responsibility for the accuracy of the poster's response**
