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  • Created with Sketch. It is being reported that major internet and cell service providers Verizon, ATt&T, T-Mobile, as well as some smaller local providers are experiencing a massive outage across the United States. This will impact the Lacerte program in regards to customer receiving MFA codes, as well as messages indicating Lacerte is not connected to the Internet.
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    What happens to old home depreciation schedule when new home is purchased and used for business?

    eeyore
    Level 3

    Taxpayer has been claiming business use of home for multiple years.  This year, he bought and moved into a new home, using it for business, but didn't sell his old home.  If I delete the old home in the 8829 screen, will it also delete it for depreciation purposes?  I'm hoping not, since I'll need that info when the home is finally sold.

    Does anyone have experience with this issue?

    Many thanks!!

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    1 Solution

    Accepted Solutions
    IRonMaN
    Level 15

    Print it and save the paper copy or print to a pdf copy so you have it for when the home is sold --------- and then delete it.


    Slava Ukraini!

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    3 Comments 3
    IRonMaN
    Level 15

    Print it and save the paper copy or print to a pdf copy so you have it for when the home is sold --------- and then delete it.


    Slava Ukraini!
    eeyore
    Level 3

    Thanks!  The schedule is now sitting in the Perm File.

    IRonMaN
    Level 15

    You betcha!


    Slava Ukraini!
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