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How to reduce the depreciation basis of an asset to zero in Turbo Tax?
In a prior year, a CPA reduced the depreciation basis of an appliance placed in service that year to zero. This year, and henceforth, I am using Turbo Tax. How do I enter this in the Asset Worksheet? No depreciation was taken for the asset, a refrigerator in a rental house. (I tried making the depreciation basis zero by entering the price of the refrigerator equal to the value of the land, but Turbo Tax does not like this.)
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‎February 20, 2023
8:46 AM