Carl
Level 15

Investors & landlords

One of those assets is refinancing from several years ago.

I think you're talking about your refinancing fees, which are amoritized (not capitalized) and deducted (not depreciated) over time. You can't "sell" that. Your refinancing costs are amortized and deducted over the life of the loan. usually 15 or 30 years. If you sell before the end of life of the loan, then you get to deduct whatever remains to be deducted of those financing fees.

Even though the program refers to that is an "asset", that's not what it is. The correct reference for your refinancing fees is "amortized intangibles".  It's something that you can't see, taste, touch, smell or hear. That's why it's "intangible"; something that does not exist in a physical form.

Basically, work through the asset and indicate that you "stopped using this asset in 2020". Then on the special handling required screen, select YES. Then "READ THE NEXT SCREEN" and select the option to have the remaining amount transferred to miscellaneious expense.