George4Tacks
Level 15
02-19-2020
08:35 PM
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I would enter the depreciable asset in as if it were still in the business. Original cost, accumulated depreciation, prior 179 and sda. Then do the sale as a 4797 with the attorney fees as a cost of sale. All of it is incident to the Schedule C activity and should be treated exactly the way it would have been done if the business were still active.
Answers are easy. Questions are hard!