I may be backwards here.
You need to select NO. If you select YES, then follow up screens will *force* you to enter sales information. You didn't sell it of course.
Basically, everything from the SCH C business is being taken out of the business by you for "personal use". Then the very next day you are making a "capital contribution" of what you removed from the SCH C business, to the C-Corp. Like I said earlier, you're just a pass-through entity to get the assets from the SCH C business, into the C-Corp.
For your situation, the screen I'm more accustomed to seeing when you dispose of an asset listed in the assets/depreciation section is titled "Special Handling Required?". Then one of the things listed as requiring special handling is that you "removed the asset for personal use". Since that's what you did, special handling is required and you click YES. Then the program does not ask you for sales information on the follow up screens.
Remember, when you get this all done for the SCH C on your personal 1040 tax return, you'll need to print out both IRS Form 4562's for this business, as they will list all the assets of the SCH C business. You will "NEED" that information so that you transfer the correct amount of prior year and current year depreciation already taken on those assets, over to the C-Corp.
I'm kinda waiting for you to get this done and get to the point where you're ready to start the 1120 Corporate Return, because I have pertinent details to provide on that when (not if, but when) you start screaming about issues with the depreciation already taken on those assets. not be accepted by the TurboTax Business program. 🙂
