How can I mark an asset as retired versus sold? Any option other than deleting it?
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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.
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.
Thanks! I thought it might still show up on 4797, but it does not.
I appreciate your taking the time to respond!
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.
I would want it on the depreciation schedule so when client sells the asset 5 years from now ..........
and in a related matter.. "How can ProSeries help make a tax preparer want to retire'
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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