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Take asset out of service

gparch1
Level 3

I want to take an asset, which was formerly listed for a rental property, out of service in ProSeries Professional.  I need to keep the asset on the asset worksheet so that it continues to carry forward and remain on the depreciation report in case the client does sell the property and all the assets.  I cannot listed as sold since the asset is still there, but it is no longer rented.  How do I enter that on the asset entry worksheet?  Date of disposition is not able to be used as that implies a sale for ProSeries Professional.

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1 Comment 1
Just-Lisa-Now-
Level 15
Level 15

You can enter a date of disposition and leave the sales price blank, its not a sale, but that will remove it from the asset list.

If you want to leave it on the list, change the business use percentage to .01% that will leave it there an no depreciation will be computed.

You didnt include any details as to WHAT this asset is, so Im not sure which advice to give.


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