Xandilunas
Level 1
08-20-2022
12:05 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I am recording two cars traded with no cash, with the car given up being fully depreciated (prior special depreciation). I figure this would mean no gain and a carried-over basis. Is this only possible by disposing of the old asset and adding the new one in Lacerte? I am trying to get the accumulated basis to stay the same and not recognize additional depreciation expense with the new asset. Is there a good way to do this?
Labels