Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Demolition of an office building. How do you add the remaining tax basis to the underlying land?

ANW
Level 1
 
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Comment 1
PhoebeRoberts
Level 11
Level 11

You can either mark the asset as 1=delete this year, or show it as disposed of for net book value. Then either create an asset for the land, or just carry it on the balance sheet manually.