How to retire an asset in Proseries

Forum|Forum|4 years ago
October 14, 2021
2 replies
10 views

How can I mark an asset as retired versus sold? Any option other than deleting it?

ProSeries Professional

This topic has been closed for replies.

Best answer by Just-Lisa-Now-

You can put a disposal date with no sales price, that stops depreciation as of that date and it wont show up on the Dep schedule next year.

Just-Lisa-Now-

Answer

Intuit Community Champion

You can put a disposal date with no sales price, that stops depreciation as of that date and it wont show up on the Dep schedule next year.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

L

linduca1216Author

Level 6

Thanks! I thought it might still show up on 4797, but it does not.

I appreciate your taking the time to respond!

ljr

Level 9

just a thought - for QBI you wouldn't want to delete the retired or fully depreciated asset as it still works into the calculation doesn't it. Sorry not enough coffee yet this morning.

dd4vols

Intuit Community Champion

and in a related matter.. "How can ProSeries help make a tax preparer want to retire'

If an answer solves your issue, click on the "Mark as Best Answer" button! Makes it easier for people to find answers to similar questions that have already been posted.

dkh

Level 15

I wish there was a "tax practitioner retirement package" available. It would include a letter to send to clients, prepaid service for moving company that will box all files for storage, and an all expenses paid travel package to destination of my choice.

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