Sale of a Business

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  • TAXBILLY
    Junior Member
    • Oct 2006
    • 24
    #1

    Sale of a Business

    I have a client who sold his lawn care business that he started from scratch ten years ago. The bill of sale gives figures for equipment, goodwill and covenant not to compete. I think I know where they go on 4797 but need some affirmation.
    all comments welcome.
    taxbilly
    Tags: None
    • jerome
      Member
      • Feb 2007
      • 75
      #2
      The tax book page 25-2 has some information on that.

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