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Partial Sale of a sole proprietorship

I have a small consulting business and sold some clients. How do I enter the sale for this into Turbotax home and business? I would think this would be a long term capital gain based on having the clients for several years.

I tried sale of assets but the interview does not seem to apply.

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1 Reply
DaveF1006
Expert Alumni

Partial Sale of a sole proprietorship

 Go to:

 

  •  Business
  •  Less Common Business Situations
  •  Sale of Business Property. 
  • Check the checkbox that says Sales of Business Property or Rental Property You Haven't already Reported.

Answer the question yes at the next screen, and then you should receive a screen such as the one listed below. The entries that you make here will determine your capital gains for the sale. 

 

  • In date acquired, put in various
  • Don't enter anything in the depreciation field.

 

 

 

 

 

 

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