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Level 2
April 13, 2022
Solved

Multiple assets in Sch E Asset Entry Worksheets

  • April 13, 2022
  • 2 replies
  • 18 views

New ProSeries user here. Client has a rental property with several assets depreciated by prior tax preparer e.g. house, furnace, bathroom addition, etc. All need to be further depreciated. Do I enter each in a separate asset entry worksheet? TIA.

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Best answer by dascpa

Yes.  Different assets, different lives, different basis.  Cannot combine.  And if you could what would happen if you disposed of one of the assets?

2 replies

dascpa
dascpaAnswer
Level 11
April 13, 2022

Yes.  Different assets, different lives, different basis.  Cannot combine.  And if you could what would happen if you disposed of one of the assets?

idakeir1Author
Level 2
April 13, 2022

Thanks, that's what I thought.