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Investors & landlords
You have to have old asset sold and start depreciating a new asset otherwise. Best to elect out, allow system to keep old asset in place and depreciate it.
Sorry I did not respond sooner, been ill.
**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
‎June 25, 2020
1:34 PM