Rox
Level 3
09-29-2021
11:09 AM
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Cattle farm's purchase of a dozen breeder cows was recorded as one asset. Is there a way to record partial disposition in ProConnect if half were sold in a subsequent year?
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TaxGuyBill
Level 15
09-29-2021
11:24 AM
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Create two new assets, using the original "placed in service" date, and using half of the Basis and prior depreciation.
Delete the old asset that had 100% of the cows.
Sell one of the new assets to reflect the sale of the half of the cows.
Rox
Level 3
09-29-2021
11:50 AM
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Thank you! I was leaning that way.
