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3 Tax Filing Watch-Outs If You Sold Business Investments in 20256 steps · Checklist
Selling business assets: what to report
The reporting that catches people out.
Report the sale on Form 8949 with the gain or loss worked out properly.
Expect depreciation recapture if the asset was written off when bought.
Separate business assets from personal ones; the treatment differs.
Remember losses on personal property are not deductible.
Adjust your estimated payments in the quarter you sell, not in April.
Keep the purchase records that prove the original basis.
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