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Print and file your return by mail, and attach Form 8594 with the return.
Because few taxpayers need the following IRS forms, TurboTax doesn't include Form 8594 Asset Acquisition Statement Under Section 1060.
OK, thank you, I can definitely file my mail, however where would I enter the information from the sale?
Send the Form 8594 that was issued to you. If the form is incomplete, you should contact whoever prepared it for assistance (or a local CPA).
See Instructions for Form 8594 (12/2012).
Generally, attach Form 8594 to your income tax return for the year in which the sale date occurred.
If the amount allocated to any asset is increased or decreased after the year in which the sale occurs, the seller and/or purchaser (whoever is affected) must complete Parts I and III of Form 8594 and attach the form to the income tax return for the year in which the increase or decrease is taken into account.
Yes, I will file by mail and include the form provided to me by the purchaser. I do believe that it was filled out correctly. I will report that I sold this business in my TurboTax process, however my concern is where do I need to report the amount in order to properly calculate the taxes? Sorry, I'm still not clear on this.
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