, beside 8594, do I need to file my taxes
for the sell of a sole proprietorship in 2015? Is goodwill entered on schedule D
, long term capital
gains? Is there an adjusted cost basis for the goodwill, if I originally received it, by exchanging my stock in "our" medical
corporation for patient charts, contact info, along with some equipment and set up my own private practice (sole proprietorship) in 1983. RE: If the stock was worth $50,000 and the goodwill was $40,000, can I adjust that $40,000 off the amount that I received for the sell of my practice in May of 2015? RE If the amount attributed to goodwill in my practice sell = $100,000. Can I use an adjusted basis of $60,000 in determining the long term capital gains tax to be paid?
Everything else that I received for the practice sell, that was not attributed to goodwill, equipment, supplies, non compete agreement etc is taxed as "normal" income
, correct? Where is this entered on the 1040? Misc income?