Where/how do I take a rental property asset out of service? A computer on my asset report that has not been completely depreciated...Probably about 25% left to go crashed & burned. I purchased a new computer for the rental.
Also, for next year... I traded the truck I use for my rentals and got a new truck. The traded truck was fully depreciated.. Like I said this is next year...
Is there a good article, publication, etc that explains these concepts in general. What to do with assets you take our of service that are not completely depreciated and ones that are? And what if you replace that asset with like kind?
I hope i made sense. I am doing my taxes for the first time this year. Its been going better than I thought.
THanks!!!
Parrish