You can move an asset from one business to another manually in TurboTax. Using last years Depreciation Report, enter the asset in the new business, date placed into service, cost, previously allowed depreciation, ect. Then review the asset details to be sure it matches what was previously used, useful life, remaining depreciation (if any), cost, ect. Once you are sure it's entered correctly in the new business, you can delete it from the old business.
Still have questions?Make a post