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February 28, 2024
Question

Reporting buiness sale

  • February 28, 2024
  • 1 reply
  • 0 views

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?

1 reply

February 28, 2024

This is regular income to the business.  

 

@Reetz0 

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