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WITAXLADY

I really am not that dumb - report 6252 sale

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so I have a sale - of business assets $10,000 depreciated all out, sold for $27,000 so some goodwill in there as well.  so can I use Bulk sale? and goes to 4797 and then how do I get to 6252

Or if I use singularly - selling assets and break out the prices  -  I still cannot figure out how to get the 6252 to pick this up?

been too long - used to be able to do these with 1 eye closed and 1 finger!

oh that is how I type ok  - 3 finger typing..

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What years will the $27,000 be received? If I am not mistaken form 6252 is only for installment sales.

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On ‎5‎/‎15‎/‎2018 at 6:42 PM, WITAXLADY said:

 

Or if I use singularly - selling assets and break out the prices  -  I still cannot figure out how to get the 6252 to pick this up?

If you are using the fixed assets module of ATX it will ask you what type of disposition so you choose installment sale.  Works the same if "bulk" sale.

For most of my clients I use a depreciation schedule outside of ATX so I just go straight to the input sheet for form 6252.

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well it is a bulk sale and an installment sale ...

do I have to sell them individually and pick some? or can I not sell business as a whole as it is just equipment?

$5,400 down and rest in 2018

 

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