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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
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Experience:  10 years experience
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My client sold his scorp the allocation was 60k

Customer Question

my client sold his scorp for 360k
the allocation was 60k assets and 300k goodwill. how can I report to 1120s and 1040?
Submitted: 7 months ago.
Category: Tax
Expert:  Mark Anderson replied 7 months ago.
Here is a link that tells you how to report an asset sale:https://ttlc.intuit.com/questions/2622914-s-corp-asset-sale-then-distributes-cash-from-sale-to-sole-shareholder-then-dissolved-on-12-30-2014-what-forms-to-file

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