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.