Replacing machine, but origianl assets was entered as part of $100k FFE.

[VParekhCPA]

Client purchased business in 2016. Total Furniture Fixture and Equipment amount was $100k.
$100k was allocated without individual allocation to each item. There is only one asset listed in ProSeries for since 2016.

In 2019, roof air conditioner was replaced at the cost of $12k. How would I dispose the air conditioner which is replace that was part of $100k transaction?

[sjrcpa]

Ideally, there should have been an itemized list of what comprised the $100K. Ask your client to guesstimate what he paid for the old unit out of the $100K. Dispose of that.

[dkh]

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@VParekhCPA wrote:

Client purchased business in 2016. Total Furniture Fixture and Equipment amount was $100k.
$100k was allocated without individual allocation to each item. There is only one asset listed in ProSeries for since 2016.

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Since you need the allocation for the roof air conditioner, have the client give you the list for all equipment purchased in 2016 so you won't run into this problem next year or the year after.  Then split out on depreciation schedule.