Depreciation of Business Asset

mackyd — Wed, 11 Feb 2026 10:13:23 GMT

I started depreciating an asset last year on my business. My use of the asset for my business has not been what I expected. I am no longer making money to support the depreciation being taken. I am using it for mostly personal use now. My income for this business for 2023 was $220. Can I stop the depreciation or how do I handle this? My depreciation amount for 2022 was $92.

Re: Depreciation of Business Asset

M-MTax — Mon, 01 Jul 2024 23:26:24 GMT

Yeah, just tell the program you converted it to personal use and the date you did that.

topic Depreciation of Business Asset in Business & farm

Depreciation of Business Asset

Re: Depreciation of Business Asset