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I sold a portion of my small business function to another business in 2022. I continue to operate the remaining functions of the business. How do I report this long-term capital gain while keeping the business open?
I sold a specific, stand-alone portion of my small business (processes, database, suppliers developed over multiple years, non-compete, etc.) for cash to another business in 2022. I continue to operate the remaining separate non-related functions of the business. How do I report this long-term capital gain while keeping the business EIN open? I am using Turbotax Home and Business.
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‎January 26, 2023
12:45 PM