Okay, so, I have a related, follow-up question:
If an asset that I'm selling is past its "life span" defined by the IRS (in this follow-up case, 5 years for a computer that I took the Section 179 deduction on back in 2011), what do I do in TurboTax then? It no longer shows up on my asset section, so there's no way to click the Edit button and mark it as sold.
Saw another thread talking about selling depreciated equipment, and the recommendation was to search for and use "Sale of Business Property". Is that what I need to do...create a sale w/ the identical description? Or is there another way to edit that asset? Or does my tax liability change since it has exceeded its "life span"?
Thanks again,
Fred
