Solved
How do I record partial disposition of a depreciable asset?
Cattle farm's purchase of a dozen breeder cows was recorded as one asset. Is there a way to record partial disposition in ProConnect if half were sold in a subsequent year?
TaxGuyBillAnswer
September 29, 2021
Create two new assets, using the original "placed in service" date, and using half of the Basis and prior depreciation.
Delete the old asset that had 100% of the cows.
Sell one of the new assets to reflect the sale of the half of the cows.
