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How do I record partial disposition of a depreciable asset?

Rox
Level 3
Cattle farm's purchase of a dozen breeder cows was recorded as one asset. Is there a way to record partial disposition in ProConnect if half were sold in a subsequent year?
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Accepted Solutions
TaxGuyBill
Level 15

Create two new assets, using the original "placed in service" date, and using half of the Basis and prior depreciation.

Delete the old asset that had 100% of the cows.

Sell one of the new assets to reflect the sale of the half of the cows.

View solution in original post

2 Replies 2
TaxGuyBill
Level 15

Create two new assets, using the original "placed in service" date, and using half of the Basis and prior depreciation.

Delete the old asset that had 100% of the cows.

Sell one of the new assets to reflect the sale of the half of the cows.

View solution in original post

Rox
Level 3

Thank you! I was leaning that way.

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