topic business assets in Deductions & credits https://ttlc.intuit.com/community/tax-credits-deductions/discussion/business-assets/01/1744844#M165189 <P>Bought a business with 3 yr old assets. How do i figure depreciation on those assets for this year?</P> Wed, 18 Nov 2020 18:54:14 GMT RogerW1 2020-11-18T18:54:14Z business assets https://ttlc.intuit.com/community/tax-credits-deductions/discussion/business-assets/01/1744844#M165189 <P>Bought a business with 3 yr old assets. How do i figure depreciation on those assets for this year?</P> Wed, 18 Nov 2020 18:54:14 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/business-assets/01/1744844#M165189 RogerW1 2020-11-18T18:54:14Z Re: business assets https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-business-assets/01/1744855#M165193 <P>Their prior depreciation schedules mean nothing to you&nbsp; ... you will enter them as new assets to you and start the depreciation again using the purchase price for the basis.</P> Wed, 18 Nov 2020 19:07:36 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-business-assets/01/1744855#M165193 Critter-3 2020-11-18T19:07:36Z Re: business assets https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-business-assets/01/1745290#M165204 <P>Thank you very much</P> Thu, 19 Nov 2020 18:51:43 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-business-assets/01/1745290#M165204 RogerW1 2020-11-19T18:51:43Z