topic Where do I report money from sale of A business? Business income? in Business & farm

Where do I report money from sale of A business? Business income?

nbjd3 — Sun, 11 Oct 2020 03:04:29 GMT

Re: Where do I report money from sale of A business? Business income?

M-MTax — Sun, 11 Oct 2020 04:57:41 GMT

Money from sales of businesses are not business income.....those sales are either capital gains or ordinary income or passive income....you need to know what you sold....inventory? property? goodwill?

Re: Where do I report money from sale of A business? Business income?

Critter-3 — Sun, 11 Oct 2020 22:23:51 GMT

https://www.irs.gov/businesses/small-businesses-self-employed/sale-of-a-business