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Business & farm
I would recommend you enter all the assets even though they are fully depreciated; enter the cost and the depreciation.
That way when you do dispose of them, TT will handle everything appropriately with Section 1245 recapture.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
ā€ˇFebruary 4, 2024
10:25 AM
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