You'll need to sign in or create an account to connect with an expert.
OK then this is what you need to do.
You are going to file a 2018 with only one Sch C.
For 2017 you are going to need to print the detailed deprecation worksheet (it is a worksheet so not part of the return), and then you will know:
Asset description
Date acquired
depreciation taken
life used for depreciation.
of each asset from the Sch C that you will not longer use.
Then you will click on Add as asset and entry this above date in the Sch C asset entry worksheet for each asset transferred from the one sch C to the one that will still exist.
It might take a few minutes this year, however after this year, everything will be in right place for future years.
OK then this is what you need to do.
You are going to file a 2018 with only one Sch C.
For 2017 you are going to need to print the detailed deprecation worksheet (it is a worksheet so not part of the return), and then you will know:
Asset description
Date acquired
depreciation taken
life used for depreciation.
of each asset from the Sch C that you will not longer use.
Then you will click on Add as asset and entry this above date in the Sch C asset entry worksheet for each asset transferred from the one sch C to the one that will still exist.
It might take a few minutes this year, however after this year, everything will be in right place for future years.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
DIY_Tax_Person
Level 2
ddranalli
Returning Member
aerdengi
Level 1
82cd2c9ae0a2
New Member
kenpre93
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.