Hello - New to Proseries and need some assistance on the Disposition of a Rental Property. I see Box H, Complete Taxable Disposition & I see how to enter the disposition information on the Asset Worksheet for the property. But I don't see how to include all other depreciable assets associated with this property in the sale. Is there a way to do this in Proseries? Our old software had a simple check box that would allow you to include all assets related to the property in a disposition (and that software was MUCH more generic than Proseries), so I figure I must be missing something on this? But I've spent a good amount of time looking and just don't see how to do this. Any assistance is greatly appreciated!
You have two routes to go.
1. Allocate the sales price to each individual asset.
2. Take the total of all of the assets and accumulated depreciation and create a new asset using those totals and delete the other individual assets. I believe this is the route recommended by 9 out of 10 dentists (or accountants - its been a long day).
and ex marks the spot where those rocks and anvils hit me.