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stop depr on rental converted to residence

loricpa100
Level 4

Other than overriding to not have any current depreciation by asset - is there a way to stop the depreciation on a rental that has been converted to a residence?  Want to keep the schedules and basis there so that when rerented or sold is available.  Do I need to override each asset current year depr manually annually?  I do not see a check box to stop....thanks!

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3 Comments 3
George4Tacks
Level 15

The only way to stop will also make it go away. Keep a copy of the current year depreciation schedule for later reference.

For each asset, enter a date of sale (You can use Ctrl + down arrow to jump to the next entry). DO NOT enter a sale price. On the rental you can enter a 2=delete next year, if you don't want it to show up on the organizer. 


Answers are easy. Questions are hard!
Accountant-Man
Level 13

Enter 0.0001 as business use percentage.

** I'm still a champion... of the world! Even without The Lounge.
sjrcpa
Level 15

Change the method to 99 Land.

The more I know, the more I don't know.