Question
How to dispose of an asset and have the undepreciated asset flow as a deduction on the 1040?
I have a client that sold their rental property and has upgrades that should be deducted from the gain.
When the date of sale was entered the past depreciation flowed to the tax return but, the rest of the
upgrades is not showing as a loss. I don't know how to put that on the asset entry worksheet or how it is done. Can someone help me.
Thank you
