turbotax icon
turbotax icon
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
Announcements
Our Community is moving to a new platform on June 8th! Read more here!!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Yes No
lastwestdesings
New Member

Small Business tax question regarding SBA loan

Hello.  In 2023 our LLC sold a small business and a chunk of the profit money went to paying off the business' SBA loan. Does the whole sale transfer onto the personal taxes of the partners, or just the profit after the payoff of the SBA loan? 

posted
‎February 19, 2024 2:17 PM
last updated ‎February 10, 2026 3:14 AM
0
681
Reply
Bookmark Icon
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Featured forums
Taxes
Lower Debt
Investing
Self-Employed
All topics

Unlock tailored help options in your account.

Live Assisted: Get answers to all your tax questions! Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Live Assisted. Explore your options!
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question

Related Content

TerrifiedArtist
user17741705439
rbwmess
cynthia-bailey-19
carolinedaley28