Hi from Just Answer. I'mCustomer I'll assist.
I assume you purchased and sold personally. So, your entries might look like this:
Hard assets (inventory, equipment, etc.) xx
Soft (customer list, goodwill) xx
(cr) debt xx
(cr) cash xx
(cr) sales yy
(cr) cash zz
(cr) acc depr/amort qq
Now, on to sale:
Acc depr - equip qq
Acc amort - cust list, goodwill qq
Loss on sale tt
(cr) assets xx
Report operations on schedule C.
Report the sale on Form 4797.
I suggest you engage a tax pro to record the purchase and sale, as there is likely two complex tax transactions that really suggest a pro's help.
Thanks for asking at Just Answer. Positive feedback is appreciated once I have answered your questions. I'mCustomer