I was bought out of a closely held company. I gave them my 500 shares of stock and received a one time cash payment for my portion of the company (which was not included on my W-2). Can I treat this as a stock sale? If not, how do I treat it?
Yes, you can treat this as a stock sale. You can also treat this as a sale of business, but reporting as a stock sales is better because it reflects your release of interest in the 500 shares of stock.
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