Updated question to the above follow-up post above:
- Under Assets/ Depreciation > Property Assets > Edit> "Did you stop using this asset in 2021?" > I selected Yes
- Entered "Date of Sale/Disposition" as "June 2021"
- Selected No for "Special handling required?"
- Selected No for "Was this asset included in the sale of your main home?"
- Did not enter any amount for "Sales Price" or "Sales Expense" fields
- The depreciation amount for 2021 shows up now as half of what it was before.
- The next page states "You have a loss of [near-original purchase price of unit] on your disposition of Residential."
Please confirm if the above steps are correct to adjust this year's depreciation amount? (it seems so)
Please confirm if step #5 (and resulting note in #7) are correct? ie, this asset will not carry over into the 2022 filing.
- (But should we enter the [near-original purchase price of unit] as the "Sales Price" to zero things out, even though this was not a sale?)
Thank you!
