Hello Everyone! Hopefully simple question here about the Form 8594. I have a doctor's practice (C Corp - Single shareholder) who is selling to another to another practice. On the purchase agreement there is an allocation of the sales price to the various classes of assets. For "Personal Goodwill" & "Covenant not to Compete" Do I include these on the corporate Form 8594 or do I do a separate Form 8594 on the shareholders personal return and list these two items there?
Thanks in advance for any insight you can provide!
