Self-reporting Income from the Sale of a Company

[pittchuck]

What form(s) do I need to complete for self-reporting income from the sale of a company where I was a shareholder? I will not be provided a tax form.

[tagteam]

Exactly what did you sell?

Were you a shareholder in a private company and sold your shares to another individual or back to the corporation?

Did you own your own business and, if so, did you sell your shares or, rather, did you sell all of the assets of the company?

Typically, the sale of a business (going concern) will require assistance from tax and legal professionals.

[pittchuck]

Yes, I was a shareholder and employee in a private company where the private company was purchased by another private company. I received income from the sell of the private company based on price per share amount I had.