- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Thank you for the reply as I appreciate the help.
I was unable to do this for the property (but had successfully done it like you suggested for another sold property, a SFR). I believe it was because the type of asset (Mobile Home) was not coded as either a single family residence (SFR) or multi family, etc rather as OTHER. OTHER only presented the asset portion with no Land field.
In the end, I deleted the asset and re-entered it, not selecting the OTHER description, and filled in the appropriate fields for the Mobile Home and Land. Then, I went back and selected OTHER and the program retained the both fields, in this case Mobile Home and Land.
Additionally, as another asset ($1000 cost, 50% depreciated) associated with the Mobile Home sale was destroyed by a hurricane, it is appropriate to allocate $0 asset sales price and $0 asset sales expense to the asset?
Also, how is this handled in the Casualty section later?