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Question

I sold my business in 2024. Where do I enter the money I made off the sale?

Forum|Forum|1 year ago
February 18, 2025
1 reply
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You will need to go through your business entries as if you were reporting your business if it was still open. As you go through the interview, TurboTax will ask if you stopped your business. It'll ask for more information on how to closed the business. You will still have to go through the interview process for the business. The program will ask about income and expenses, and about any assets that the business had.

For more information visit the following links for both IRS and TurboTax information on closing a business:

Steps to take to close your business

Closing a Business