In 2021 S Corp moved from where LHI were made. Still years of depreciation expense remaining.
Is it correct to expense all unused depreciation in year we left?
If above assumption is correct, I'm wondering if I need to do something different on the Asset Entry Wks.
I entered date of disposition and Asset sales price as zero
Thanks!!
Thank you both very very much.
Wondering if the correct way is to take all unused balance as 2021 depreciation expense.
Or perhaps the correct way is via form 4797?? I think ether way, it goes on the 1120S page 1 and bottom line is the same.
Be well wise ones!
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