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How to process an asset being sold in Turbotax?
Hey Everyone—
When selling a business asset (in this case, a computer), in Turbotax, do I need to BOTH:
1. edit the item as sold/disposed in the Asset Summary list, AND
2. include the sale price as income elsewhere?
Or does editing the asset and entering the sale value there obviate the need to include the money from the sale as income (IOW, does Turbotax automatically account for that)?
Thx,
Fred
February 20, 2020
7:15 AM