@Carl, @AmeliesUncle,
Hi,
I am about to create 3 new assets and delete the old jointly owned asset in my property as suggested by AmeliesUncle yesterday.
However, Turbotax says: "The only time you should change any prior year asset information is if it does not accurately reflect the information in your prior year return, or if your business use drops to 50% or less". And Carl also mentioned at the very beginning yesterday that I should not change "ANYTHING" in the existing asset - No exception!
I don't want to take the risk, and would like to double confirm with your people that replacing the existing asset with the 3 new ones, as AmeliesUncle suggested, is the way to go.
In my last message, I listed two advantages of using AmeliesUncle's method vs the original method from Carl. I hope those are correct.
Please advise. Thanks again!
