Skip to main content
February 18, 2023
Solved

What Class is consulting Income on form 8594?

  • February 18, 2023
  • 1 reply
  • 0 views

Hello,

 

I sold my practice and the allocation included 20% Consulting.  Which class does consulting go under on Form 8594?

 

Thanks!

    Best answer by Anonymous_

    Generally, Class VI if the agreement is in the nature of a covenant not to compete. Otherwise, Class VII.

    1 reply

    Employee
    February 18, 2023

    Generally, Class VI if the agreement is in the nature of a covenant not to compete. Otherwise, Class VII.