RSCPA
Level 2
03-09-2021
03:19 PM
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I have a client that purchased a Territory of Business 10 years ago for $100,000. They have now sold this Territory to their home office for $500,000. Their home office paid them 50% in 2020 and the remaining balance to be paid this April. Can they report the sale of this goodwill on the installment method?
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TaxGuyBill
Level 15
03-09-2021
05:46 PM
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