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Deductions & credits
Because you bought and sold the Asset in the same year, it does not qualify for the Special Depreciation so it automatically checked OPT OUT meaning you will not be deducting that Special Depreciation. No need to correct that is the correct option.
Property placed in service and disposed of in the same year cannot be depreciated. Remove from the depreciation schedule. Use this linki for more information
Sales and Other Disposition of Assets
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March 15, 2021
10:34 AM
1,216 Views