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Young-TP
Level 4
March 1, 2021
Question

sale of an asset

  • March 1, 2021
  • 2 replies
  • 22 views

When a car that has been 179d and is sold 2 years later how is the gain figured on the 179 amount? I have never had anyone sell their depreciated asset

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2 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
March 1, 2021

If you have the asset entered in the car and truck worksheet, you just need to enter the disposal date and price and the software will do the heavy lifting for you.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    Young-TPAuthor
    Level 4
    March 2, 2021

    Thanks, so much. That is what I thought but just wanted to verify I wasn't missing another important step.

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