grandmabee Posted April 1, 2023 Report Posted April 1, 2023 I have a client who sold her daycare center. No assets sold except a couple desk, tables, toys etc. that were not listed on any depreciation schedule. It was in her home. It will still be in her home and the new owner is renting back the space and the family is living in the downstairs. It is separate. I will report rental on Schedule E. I assume what she sold is self created goodwill since no assets. Is this correct? Anyone have experience with a daycare selling? TIA Quote
DANRVAN Posted April 1, 2023 Report Posted April 1, 2023 1 hour ago, grandmabee said: goodwill since no assets. Should be treated like the sell of any other business and recognize goodwill. 2 Quote
grandmabee Posted April 4, 2023 Author Report Posted April 4, 2023 That is what I thought but no assets. Usually all the business sales have assets that are sold. Thanks Quote
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