Question: If the one - time payment is considered payment for the transfer of the franchise, the transaction wouldwould not be considered a sale or exchange

If the one-time payment is considered payment for the transfer of the franchise, the transaction
wouldwould not
be considered a sale or exchange of a capital asset. Code 1253 provides this treatment when the transferor
gives upretains
any significant power, right, or continuing interest in the property transferred. It appears that Blue
hashas not
sold all rights to the name, DateSiteForSeniors.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Here is a copy of Schedule D and Form 8949 for completing the required assignment,Instructions for all IRS forms are a great resource and can be found at www . irs .gov. Here are links to...

Q:

Here is a copy of Schedule D and Form 8949 for completing the required assignment,Instructions for all IRS forms are a great resource and can be found at www . irs .gov. Here are links to...

Q:

Here is a copy of Schedule D and Form 8949 for completing the required assignment,Instructions for all IRS forms are a great resource and can be found at www . irs .gov. Here are links to...

Q:

Complete three Tax Forms (Attached blank forms 2015 schedule D, 1040 and 8949). (Refer to the instructions PDF attached): Spencer Duck (SSSN 000-22-111) is single and his eight year old son, Mitch,...

Q:

Complete three Tax Forms (Attached blank form 1040). (Refer to the instructions PDF attached): Spencer Duck (SSSN 000-22-111) is single and his eight year old son, Mitch, lives with him nine months...

Q:

Complete three Tax Forms (Attached blank forms 2015 schedule D, 1040 and 8949). (Refer to the instructions PDF attached): Spencer Duck (SSSN 000-22-111) is single and his eight year old son, Mitch,...

Q:

I would like to get a help with completing three Tax Forms (Attached blank forms 2015 schedule D, 1040 and 8949). For the question: (Refer to the instructions PDF attached and Refer totax return...

Q:

Complete three Tax Forms 2015 schedule D (attached). (Refer to the instructions PDF attached): Spencer Duck (SSSN 000-22-111) is single and his eight year old son, Mitch, lives with him nine months...

Q:

Hi I know you opted out of an earlier question. I have several open questions. I really need to get them in. Would you be willing to take any of these questions? I have been waiting for 3 days. I...

Q:

I've attached the quesiton as a word file, thanks! JWCL165_c11_506-567.qxd 8/12/09 7:54 AM Page 506 11 Corporations: Organization, Stock Transactions, Dividends, and Retained Earnings Chapter STUDY...

Q:

determine burden amount from the following data. Item Wages Bonus Allowances Social Security Medicare FUTA SUTA Workers' Comp. General Liability 401(k) Health Insurance Cost $145,000 $10,000 $500 per...

Q:

The product of two members of a group must be a member of that group. (a) List the members (the symmetry operations) of the group 2v, using the x, y, and z axes to specify the axis or plane with...

Q:

Which of the following are all items from the balance sheet? net sales, inventories, notes payable cash, accounts receivables, taxes account recelvabtes, deprectation expense, long term debt cash,...

Q:

Describe how total variable costs and unit variable costs behave with changes in the level of activity. If fixed costs increase, what would be the impact on the contribution margin and income from...