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Business & farm
Just to clarify, the end goal here is to manipulate the Turbo Tax software so that the assets no longer show on the actual Personal forms. Correct? Or is it that we do in fact want to show the assets, and just have them at zero?
Likely they would be carried over within Turbo Tax on the previous year's Personal return from 2018 and still show. And if the only way to remove them is to dispose with no gain or loss, I understand from a standpoint of working with the Ttax software.
But at the end of the day, Turbo Tax aside, is it better to make sure the assets don't show on the 2019 Personal Return, and only show on the Business Return? Essentially avoiding any duplication between the Personal and Business return...?
Thanks again Rick!
‎February 10, 2020
4:04 AM