Disposition of Assets! I have reflected on your guidance and I believe that I am finally understanding! I have used Turbotax for the life of the rental so I have all the assets clearly listed with previous depreciation, etc! In fact, most of the added assets reached the end of their life. So, for those assets I will enter a zero as I go down the list and edit value, right? Example for you for a more complicated case: The new electric circuits came with a 27.5 life and have used up 14 of those years. Original cost was $1310 and $631 was prior depreciation. Annual depreciation amount is 48 dollars. To determine value when I edit the assets, do I enter the remaining amount (1310-631) or ...? Does the sales price have an impact on the asset value? And finally, my husband always used his vehicle to visit the property and that is on record since 2008. He still has the vehicle, so is that something I will have to address.
