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posted Mar 17, 2025 2:47:39 PM

Sole Proprietor business property transfer

I've had a sole proprietor gardening business for about six years now. Three years ago I bought a piece of property to develop into a general store. On my taxes, I parked the property as an asset for my gardening business and have been depreciating it. Last year I started improving the land to prepare a site to build the store on. I want to separate the two sole proprietor business expenses going forward and need to transfer this property from my gardening Schedule C to my store's Schedule C. How do I do that on Turbo Tax without messing up my depreciation?

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