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Level 2
posted Feb 28, 2024 9:15:34 AM

Reporting buiness sale

My S corp sold 30% of its client list in 2023, accepting a down payment, plus monthly payments over five years.  (No tangible assets; this is an advisory business.)  How and on which form(s) do I report this for 2023, and for the following years?

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1 Replies
Employee Tax Expert
Feb 28, 2024 9:20:43 AM

This is regular income to the business.  

 

@Reetz0