Sale of Business through an APA

[danweisel]

I sold two business locations this year that were structured as an Asset Purchase Agreement to separate businesses. Both had specific allocations that require a Form 8594. Our business is still operational. I understand I will need to E-file to include the 8594s but is there a way for me to document the revenue from the sale on my online version?

[RobertB4444]

Revenue from the sale of a business asset is entered on schedule D and form 4797.  In TurboTax enter it as the sale of an investment. In the wages and income section of your federal return scroll down to 'Investment Income' and click start next to 'Stocks, Bonds, Cryptocurrency, Other' (you're the other).  Enter all the information about the sale in there and the system will enter it into the correct forms.

@danweisel