If I depreciated items via Section 179 in previous years, do I still have to list these as "assets" this year since they're still technically "in use" or can I omit them?
(I realize there is nothing to be gained from a taxation standpoint by listing these, but I want to make sure that I am "reporting" everything that I am supposed to be reporting.)
01335
1 Best answer
IreneS
Intuit Alumni
Jun 3, 2019 1:01:20 PM
Keep the assets in your return -- do not delete them. You will need the information in case you dispose of the assets in the future and you need to deal with recapture of depreciation.
1 Replies
IreneS
Intuit Alumni
Jun 3, 2019 1:01:20 PM
Keep the assets in your return -- do not delete them. You will need the information in case you dispose of the assets in the future and you need to deal with recapture of depreciation.