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Investors & landlords
Yes, the depreciation stops. If your furnace stopped working, then you will need to report that you disposed of the asset.
If you have this listed as an asset, you will simply need to select edit next to the furnace and when asked, marked that you stopped using it in 2021. You will be walked through the depreciation recapture and disposal steps when you report this.
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‎February 24, 2022
4:52 PM