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jugantor
New Member

Under Wages/Income -> Rental Income -> Assets/Deprec -> Asset Summary Calculation Says "Sold/Retired from Business use in 2016" as No. It's not true. How do I change it?

I rented out 1 room in my primary residence for 1 month and then didnt rent out at all for the rest of the year. Now, In the Asset Summary Details, I see that it mentions that "Sold/Retired from Business use in 2016" as No. This should be "Yes", isnt it, since I didnt rent anymore after that 1 month in 2016.
1 Best answer

Accepted Solutions
PaulaM
Expert Alumni

Under Wages/Income -> Rental Income -> Assets/Deprec -> Asset Summary Calculation Says "Sold/Retired from Business use in 2016" as No. It's not true. How do I change it?

Indicate that you stopped renting the room under the Property Profile section. 

Then navigate to the Sale of Assets/Depreciation section to enter its disposal date and work through the depreciation for the rental.

See attached example.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
PaulaM
Expert Alumni

Under Wages/Income -> Rental Income -> Assets/Deprec -> Asset Summary Calculation Says "Sold/Retired from Business use in 2016" as No. It's not true. How do I change it?

Indicate that you stopped renting the room under the Property Profile section. 

Then navigate to the Sale of Assets/Depreciation section to enter its disposal date and work through the depreciation for the rental.

See attached example.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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