Depreciation of Business Asset

[mackyd]

I started depreciating an asset last year on my business.  My use of the asset for my business has not been what I expected.  I am no longer making money to support the depreciation being taken.  I am using it for mostly personal use now.  My income for this business for 2023 was $220.  Can I stop the depreciation or how do I handle this?  My depreciation amount for 2022 was $92.  

[M-MTax · Accepted solution]

Yeah, just tell the program you converted it to personal use and the date you did that.