Sale of a business
Sale of a business. Ameriprise sets the amount someone's business is worth and the person sells his Ameriprise "franchise" to someone else. Is it capital or ordinary income?
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c_B914u3Sr4yUOacwZ5xHE
02/09/12 4:11pm PST
Viewed by asker 03/14/12 9:41pm PDT
Viewed by asker 03/14/12 9:41pm PDT
4 Replies
sjrcpa
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02/09/12 4:47pm PST
Depends. What legal form of entity does the seller operate under? Is it an asset sale? Generally a business is composed of various types of assets-some give capital gain and some ordinary when sold.
The more I know, the more I don't know.
