sw-pa-farmer
Returning Member

I operated a Sch. C bed and breakfast (now closed) on my farm, I would like to import the assets of the bed and breakfast into my farm depreciation. Best Way?

The assets I would like to import are buildings that would take on farm functions.  There are additional assets I will convert to personal use.  Stymied on how to do this.  Convert all assets to personal and then put on the farm schedule?  "Sell" the assets to the farm?  Thanks for your help.