Sale of business including inventory

[KJ Judd]

Client closed business (SMLLC) and sold remaining inventory & fixed assets to single buyer. (Buyer has different location so is not taking over client list, goodwill, etc. or store location.) How do I report the sale of inventory? Is that sale price added to the other regular sales & reported on Schedule C? Or do I need to do something special with it?

[JG EA]

The sale of inventory results in ordinary income or loss.

[veritas]

We had this discussion before

http://www.thetaxbook.com/forums/showthread.php?t=2962&highlight=inventory+sale

[KJ Judd]

Thanks, veritas. I always wonder when it seems too simple.