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
Close icon
Do you have a TurboTax Online account?

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

Yes No
Reetz0
Level 2

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?

posted
‎February 28, 2024 9:15 AM
last updated ‎February 10, 2026 2:32 AM
0
1
418
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.

1 Reply
RobertB4444
Employee Tax Expert
Employee Tax Expert

Reporting buiness sale

This is regular income to the business.  

 

@Reetz0 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 28, 2024 9:20 AM
0
382
Reply
Bookmark Icon

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

Rena89
tom.besch
iclemenes1948
richardR1
selph