Can an asset be transferred to a different Schedule C within the same return. Client has two businesses and asset needs to be moved to the other business.

[T-Town-CPA]

Can an asset be transferred to a different Schedule C within the same return. Client has two businesses and asset needs to be moved to the other business.

[IRonMaN · Accepted solution]

Yes, you just have to change the link on the asset to go to the other schedule C.

[rbynaker]

Open the Asset Entry Wks.  From the top menu, pull down Forms and select Change Activity.

[TaxGuyBill]

You beat me to it.  :smile:

[T-Town-CPA]

Thank you, but how do I accomplish this?  The activity on the asset entry worksheet does not allow a change.

[T-Town-CPA]

Thank you for your quick response!  Very simple...

[TaxGuyBill]

Open the asset.

Go to "Forms", then "Change Activity".

[rbynaker]

At least we got the same answer!