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Is sale of Insurance Book of Business considered a capital asset?

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Level 1

After 35 years the company brought back the book of business.

Paying in 3 installments, 1st in 2018 and 2nd and 3rd in 2019.

Can 1st payment be considered a capital asset?

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Level 12

You've asked Three times. You are answered here:

https://accountants-community.intuit.com/questions/1825400-should-i-use-schedule-d-to-report-sale-of...

I will close this topic.


*******************************
"Level Up" is a gaming function, not a real life function.

View solution in original post

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Highlighted
Level 12

You've asked Three times. You are answered here:

https://accountants-community.intuit.com/questions/1825400-should-i-use-schedule-d-to-report-sale-of...

I will close this topic.


*******************************
"Level Up" is a gaming function, not a real life function.

View solution in original post

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