- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
To keep the accounting as uncomplicated as possible, it would be better to amend the 2018 return with the assets included. Then transfer the return to your current (2019) return.
Go ahead and keep the asset life at 5 years since that was the life used originally. This is OK, as long as the assets could be considered in that category--for example, it's not a cow being described as tools/machinery :).
‎April 1, 2020
8:49 AM
871 Views