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- I have a client who has stopped renting a property and iit is now his main residence. How do I retire the asset in Proconnect. Anything else I need to do?
I have a client who has stopped renting a property and iit is now his main residence. How do I retire the asset in Proconnect. Anything else I need to do?
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worthlambert
Level 1
04-08-2023
07:10 PM
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If I retire the assett will it show as sold on proconnect?
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George4Tacks
Level 15
04-10-2023
10:02 AM
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For each asset show a Date of Sale, but nothing for sales price. That will stop the depreciation at the right time and delete it next year.
For the rental you should be able to mark delete NEXT year. That will make it go away, but will not claim all the passive loss carryovers, since it is not disposed of.
Answers are easy. Questions are hard!
