Client retired and has decided to rent out his commercial building. How do I switch the asset from Schedule C to Schedule E? I stopped depreciation on the Sch C with a disposition date of 8-31 and no entry in the sale amount, but how do I move forward with a partially depreciated building on the Sch E?
Just use adjusted basis for the schedule E, and date in service when available for rent
Thank you. That is what I did, but then does the life stay at 39 years? And this will be first year depreciation for the Schedule E?
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