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Get your taxes done using TurboTax
okay. but since I will not file on this business in 2020 tax year I can't depreciate the lens as I would at the same time have to sell it and claim it so that seems like a bad idea,
So you are saying I need to file schedule C claim full profit with no expenses (other than the lens I have none this year) and then add in the income for fair market value for everything I ever depreciated (last 2 years) as additional profit and pay taxes on all that too?
‎January 20, 2020
7:54 AM