Partial Disposal of Assets

Tanya · ‎03-04-2020

How do I record multiple-partial disposals of an asset in Lacerte? The partnership sold a partial piece of land held as one asset early in the year. An additional portion of the asset was sold later in the year. Since I'm using a percentage of asset sale on the first disposal, how can I then dispose of an additional portion later in the same year?

RinaTringali61 · ‎03-04-2020

Split out the entire asset as of 1/1 into two pieces. Then you can sell piece one here, and piece two there.

Tanya · ‎03-04-2020

That would be easy if it were only a few assets, but this is land that has been developed into a subdivision with several hundred lots.

RinaTringali61 · ‎03-04-2020

Could you split into 50 lots on one, 50 on the other?

Partial Disposal of Assets

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