RSCPA
Level 2

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