Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

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.

Highlighted
Level 3

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.

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Highlighted
Level 15

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

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.

View solution in original post

0 Cheers
7 Replies 7
Highlighted
Level 15

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

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.

View solution in original post

0 Cheers
Highlighted
Level 10
Open the Asset Entry Wks.  From the top menu, pull down Forms and select Change Activity.
0 Cheers
Highlighted
Level 12
You beat me to it.  :smile::smile:
0 Cheers
Highlighted
Level 3
Thank you, but how do I accomplish this?  The activity on the asset entry worksheet does not allow a change.
0 Cheers
Highlighted
Level 3
Thank you for your quick response!  Very simple...
0 Cheers
Highlighted
Level 12

Open the asset.

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

0 Cheers
Highlighted
Level 10
At least we got the same answer!
0 Cheers