How to retire an asset in Proseries

[linduca1216]

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

[Just-Lisa-Now- · Accepted solution]

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.

[linduca1216]

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

I appreciate your taking the time to respond!

[ljr]

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]

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

[dd4vols]

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

[dkh]

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.