topic I've paid off the loan on a rental and need to know how to zero the balance on depreciation of bank loan fees that I've been depreciating. in Investors & landlords

I've paid off the loan on a rental and need to know how to zero the balance on depreciation of bank loan fees that I've been depreciating.

miatatime — Sat, 01 Jun 2019 02:30:13 GMT

"Your asset summary" page for your rental [click edit bes...

view2 — Sat, 01 Jun 2019 02:30:16 GMT

"Your asset summary" page for your rental [click edit beside the asset entry] What you named the entry "points" "loan fees" etc

continue through several screens to "Tell us About this Rental Asset"

Mark you sold and then the date paid off in the drop down screen.

continue through several more screens to "Special Handling Required"

Click the "YES" "Intangible asset not a 1245 property" is the reason.

then "Depreciation Deduction Amount"

then select "Transfer these fees for me to other Expenses"

The loan was paid off .

Thanks but I did not sell the rental - just paid off the...

miatatime — Sat, 01 Jun 2019 02:30:17 GMT

Thanks but I did not sell the rental - just paid off the loan and now I need to stop to depreciation.

When you click the edit for the points in the asset secti...

view2 — Sat, 01 Jun 2019 02:30:19 GMT

When you click the edit for the points in the asset section that is what you do when the loan is paid off ,read the screens .

When you mark as suggested the following appears"

"This item was sold,retired,stolen ,destroyed,disposed of,converted to personal use,traded in ,or given away (or it is no longer used in this business for some other reason)