The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

I sold one of my listings. How do I report the sale?

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., "www.mywebsite.com"

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, or to rant about personal issues. It's all in the guidelines.

Submit Your Answer
Answers (1)
No User Photo
Freedom Business Brokers
Orange County, CA

Nelson
Your question is incomplete. Who do you want to report the sale. If you have sold this business thru running an escrow it is automatically recorded in the county records under the new buyer's name and if incorporated under a new corporation as the filing of Fictitious business name of the business and the name of company./ corporation is integral part of escrow or sale thru an attorney. This stays in the public records for 5 years in the county files.
No offense I am surprised to see this question specially coming from an agent or broker.
If you are concerned with the reporting of the income on your income tax when you file your taxes
you file all the information of total gross income on the 1040 form and deduct all expenses..

Feb 6, 2012

Start a Discussion