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Depreciation
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MGC94
Level 7
03-07-2024
04:44 PM
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Opened up a 1065 partnership in 2020
Equipment (engraving machine cost $24,000)
1065 dissolved.
Opened up single member LLC 2023
Can they re-depreciate the equipment?
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2 Comments 2
sjrcpa
Level 15
03-07-2024
06:47 PM
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Client received that equipment as part of the dissolution of the partnership?
The more I know, the more I don't know.
MGC94
Level 7
03-07-2024
06:49 PM
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They were a couple and still are. They just aren't married.
She kept the equipment in their home.
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