topic I retired in 2016 and did not earn any income except for the sale of my company in 2017. Do I still have to pay Self-Employment Tax on the Sale of the Company? in Get your taxes done using TurboTax

I retired in 2016 and did not earn any income except for the sale of my company in 2017. Do I still have to pay Self-Employment Tax on the Sale of the Company?

coultereng — Tue, 04 Jun 2019 22:00:35 GMT

Ordinarily not. If you sold for a capital gain, you may...

Zbucklyo — Tue, 04 Jun 2019 22:00:36 GMT

Ordinarily not. If you sold for a capital gain, you may owe capital gains tax, but it depends on the amount of the gain, and other income you have. Capital gains are taxed at 0%, 15% or 20%, depending on your income, and if the gain is sufficiently large, you would also owe the Net Investment Income Tax of 3.8% on part of the gain.

Usually when you sell a company you sell it off in parts...

Critter — Tue, 04 Jun 2019 22:00:37 GMT

Usually when you sell a company you sell it off in parts ... the inventory, the assets, the goodwill, etc. So if you were filing a Sch C in the past for this business and sold of the inventory then that would still be on the Sch C, the assets on the form 4797, etc.