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Level 2
April 15, 2021
Question

CLient ended a Schedule C during the year. How do I adjust depreciation for the vehicle used in the business for the partial year

  • April 15, 2021
  • 1 reply
  • 15 views

client was a schedule C for the last few years.  They used a vehicle that is owned and was being depreciated.  The Schedule C was terminated on 8/31/20.  How do I adjust depreciation to only reflect the eights month is was used for the Sch. C.  Thank you!

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1 reply

IRonMaN
Level 15
April 15, 2021

Enter a sale date on the asset entry worksheet but leave the selling price box blank.

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