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New client has no details for depreciation. Shred everything 3 years ago.

rusty-magic
Level 3

What is the best way to recreate the information?

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Accepted Solutions
sjrcpa
Level 15

Ask the client a lot of questions. Glean what you can form the past year's records and tax returns he does have.

The more I know, the more I don't know.

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10 Comments 10
sjrcpa
Level 15

Ask the client a lot of questions. Glean what you can form the past year's records and tax returns he does have.

The more I know, the more I don't know.
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Marc-TaxMan
Level 8
Have client ask prior preparer.
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rusty-magic
Level 3
Sorry. I should have added that prior preparer is deceased.  Thanks.
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Marc-TaxMan
Level 8
Our mind reading classes are deficient in that department.  Maybe they should add courses.
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rusty-magic
Level 3
So true.
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IRonMaN
Level 15
So he shred everything 3 years ago.  Do you have the last 2 or three returns to determine if we are talking big dollars or piddly dollars?

Slava Ukraini!
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IRonMaN
Level 15
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rusty-magic
Level 3
Not sure yet. Meeting this week. Told them not to shred anything else. Thanks
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rusty-magic
Level 3
I will keep the game in mind   
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IRonMaN
Level 15
:+1::+1:

Slava Ukraini!
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