Where do I enter the amount that I sold my sole proprietor business

I sold my small sole proprietorship online membership business in 2014.  Business made $5000  and sold for $16 000

Do I place the total $5000 in sales and $16 000 for sale of business  on the form statement of business or professional activities  under Business Income/ gross sales or do I need to separate these two totals and just have the $5000 in Business Income/ gross sales  and place the amount that I sold the business for somewhere else?  Not certain where?

Its an online internet membership based business, not certain if the members were the assets in the sale.  I received $12000 assets and $4000 good will. 

Answer

You will have to click on income tab>investments>capital gains and deductions and enter new dispositions.  You will need to know the original cost of your web space, maintenance of it, any costs associated with set up, and the cost of the sale agreement if any.  You will enter the lowest of original cost or proceeds, enter your costs, and pay tax on 50% of the remainder. 

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