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The sale of a business usually is not a sale of one asset. Instead, all the assets of the business are sold. Generally, when this occurs, each asset is treated as being sold separately for determining the treatment of gain or loss.
The buyer and seller should each attach Form 8594 -
to their federal income tax returns for the year in which the sale occurred. They will list all assets and allocate the price to each asset.
The seller will report teh sale of each separate asset - and depending on unrecoverable basis, will calculate the gain - separately for each asset.
and after that will combine all gains and all losses realized on separate assets.
That will be realized gain on teh sale of teh entire business.
The allocation between assets is based on the agreement between the buyer and the seller.
That is partially the purpose of form 8594 to represent that allocation.
The total sale price is also subjective and based on the agreement.
Whatever - both - the buyer and the seller - agreed - that will be considered true fair market value of the business and for each specified asset included into that sale.
You may order an apprasal if you want to have a professional opinion before negotiating.
The buyer will start depreciation/amortization of these assets based on allocation from form 8594.