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How to retire an asset in Proseries

linduca1216
Level 5

How can I mark an asset as retired versus sold?   Any option other than deleting it?

 

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Just-Lisa-Now-
Level 15
Level 15

You can put a disposal date with no sales price, that stops depreciation as of that date and it wont show up on the Dep schedule next year.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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6 Replies 6
Just-Lisa-Now-
Level 15
Level 15

You can put a disposal date with no sales price, that stops depreciation as of that date and it wont show up on the Dep schedule next year.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

linduca1216
Level 5

Thanks!   I thought it might still show up on 4797, but it does not.

I appreciate your taking the time to respond!

ljr
Level 4

just a thought - for QBI you wouldn't want to delete the retired or fully depreciated asset as it still works into the calculation doesn't it. Sorry not enough coffee yet this morning.

dkh
Level 12

I would want it on the depreciation schedule so when client sells the asset 5 years from now ..........

dd4vols
Level 9

and in a related matter.. "How can ProSeries help make a tax preparer want to retire'

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dkh
Level 12

I wish there was a "tax practitioner retirement package" available.  It would include a letter to send to clients, prepaid service for moving company that will box all files for storage, and an all expenses paid travel package to destination of my choice.