Asset disposition

[bfreem]

Why can't I access the asset disposition section? It asks me if I have permanently disposed of assets and when I click yes it doesn't go anywhere.

[PatriciaV]

Although you are asked about this in the Profile section, the actual transaction is entered for the Capital Assets of the business. In TurboTax Online, return to either Rentals (Schedule E) or Self-Employed Business (Schedule C), then go to the Assets section and work through the interview to report the disposition information. 

In TurboTax Home & Business CD/Download for desktop, this section is called Business Assets or Assets/Depreciation.

[bfreem]

I'm in the asset section in TT for business.  It won't let me do anything.  I mark yes and then click continue and it just sits there.

[DawnC]

Try to scroll down to the bottom of the page - there should be a Continue button.   If not, close the return and reopen it or sign out and sign back in on a new tab or different browser.   @bfreem

[bakaribrooks]

I am using TurboTax desktop and there is no where on the Business Asset Summary or during the edit process to indicate the asset is disposed of midyear.  I have deleted it and re-entered it and still no option to say its been disposed of.  Its s a car

[MonikaK1]

If the vehicle was used in your Schedule C business, the information about the vehicle in TurboTax Online is all included in the Vehicle Expense section of Schedule C rather than in the Assets section, which is for other items such as furniture and equipment. This can facilitate comparing actual costs to mileage.

See this TurboTax tips article for more information about reporting self-employment deductions.

@bakaribrooks