topic Thanks! in Deductions & credits

How do I enter equipment acquired in 2016 as an asset with no depreciation on the balance sheet in Turbo-Tax. This equipment won't be placed in service until 2017?

meyerbrent — Thu, 06 Jun 2019 00:22:57 GMT

How do I enter equipment acquired in 2016 as an asset with no depreciation on the balance sheet in Turbo-Tax. This equipment won't be placed in service until 2017?

You don't begin depreciation on an asset until the asset...

Cattlerancher — Thu, 06 Jun 2019 00:22:58 GMT

You don't begin depreciation on an asset until the asset is placed into service of the business-----so just retain your purchase records and enter the asset in 2017.

Thanks!

meyerbrent — Thu, 06 Jun 2019 00:23:00 GMT

Thanks!

You are welcome-----

Cattlerancher — Thu, 06 Jun 2019 00:23:01 GMT

You are welcome-----