Question
Depreciation
A depreciation question. In Feb of 2024, my spouse purchased a Mac Studio and laser printer to facilitate her working remotely for her ex-employer. They are both 5 year properties and I've been tracking their depreciation according to MACRS schedule (not that we can deduct depreciation as individuals). In March of 2026, the firm, essentially folded, and she formed an LLC to continue as a free lancer. The computer/printer became the LLC's property. My questions are, do I use their current depreciated value or their fair market value (which is substantially higher, due to the RAM shortage caused by AI)? Second, does the 5 year time line reset to LLC's formation date?
