I just went through the whole process to make sure it works. Follow these steps:
- Go into your assets/depreciation section.
- Do you want to go to your summary? Yes
- You will see all assets listed. The rental house and everything connected to it will need to be gone through and disposed of.
- Select Edit next to the house
- continue through until you reach, Tell Us More About This Rental Asset
- Select the item was sold, enter the date sold
- Answer the business percentage question, continue
- confirm prior depreciation
- Special Handling? if none, select No
- Was it main home? select No
- Enter the sales information for the house.
Go through this process with each asset and sell them for zero. For example, refrigerator you have been depreciating was sold with the house at no extra cost.
@hhooper3
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
