Do I need to dispose of assets on the asset entry worksheet on a taxpayer's final tax return on the date of death, with $0 sales price? The assets are going to the 2 sons. There is a Schedule F and a Schedule E.
Just to clarify, he is owing more when I enter this way, since there is recapture of depreciation. Upon research, I'm not seeing any information on this, so just verifying this is correct.
I think we're good...it's just changing the amount that can be depreciated for the year, based on the date of death, rather than receiving a full year of depreciation.
