Hot water heater placed in service 5/19/14 for rental property - fully depreciated. Replacement placed in service 9/28/2020 and 2025 will be last year of depreciation.
Reviewing my asset list, I failed to dispose of the asset in 2020 - it was thrown out. I am only able to find the interview question regarding disposition of the item in 2024.
I plan to continue to own this property for some time. How do I rectify this or just leave it alone until the property is sold?
Thanks!
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Since the old water heater was disposed of for zero dollars it has no effect on any tax returns. Just dispose of it in 2024 so that it is removed from the property and move on.
you should come to a page that says "your property assets". the hot water heater should be listed. just click the blue delete icon.
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