I have a single member LLC filing a schedule C. I have 2 assets and 1 one home office depreciation. The LLC was dissolved and the two assets are just being transferred to myself I still own the house.
For the two assets, I see that I can enter a date that the LLC stopped using them but I didn't "sell" them to myself so it seems like I would just indicate they are now 100% personal use but does this put the assets in a "limbo" state with the IRS since they are not actually sold? One asset used the "special depreciation" and the other the section 179. I'm not planning on selling them. Does it even matter after they are 5+ years old (computer equipment).
Similar for the home office depreciation, turbo tax allows me to enter when I stopped using it, but I assume when I eventually sell the home I will have to reconcile the the depreciation? How would I do this if the business is now dissolved?
