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- I have a final Partnership Return that I need to dispose of assets- went with the sale of the business. How can I do a bulk disposal?
I have a final Partnership Return that I need to dispose of assets- went with the sale of the business. How can I do a bulk disposal?
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annbossojohnson
Level 2
05-05-2021
05:12 PM
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bulk disposal of assets
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George4Tacks
Level 15
05-05-2021
06:26 PM
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In the depreciation entry, enter a SALE DATE. If not sold, don't enter a sales price. The depreciation schedule will show you the remaining depreciable basis that would be a distribution to the party taking the asset.
If it is a sale, you need to do more work. Post back here if you need help. You should find what you need here: https://proconnect.intuit.com/community/form-8949/help/entering-a-sale-or-disposition-of-assets/00/5...
Here's wishing you many Happy Returns
