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How is the sale of a partnership reported on the personal…

How is the sale...

How is the sale of a partnership reported on the personal 1040 tax return? and how is "personal" goodwill recorded on the partnership since it is closing?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

We sold our partnership.

Accountant's Assistant: Is there anything else important you think the Accountant should know?

The amounts were for the fixed assets, corporate goodwill, non-compete, and personal goodwill.

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3/29/2018
Cole Parker
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