ford-taylor
Level 1
12-06-2019
06:41 PM
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Client sold a business that provided personal services and part of the agreed purchase price with the buyer was $400,000 for goodwill. I have seen opinions saying yes goodwill is exempt from NIIT for active trades and businesses and no, it is not exempt.
Has this issue been resolved? If is exempt from NIIT, how do show the exemption from NIIT on the personal tax return?
Solved! Go to Solution.
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itonewbie
Level 15
12-06-2019
06:41 PM
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See if this recent discussion helps: https://accountants-community.intuit.com/questions/1783594-sale-of-goodwill-of-veterinarian-practice...
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