turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

webmaster
New Member

2014 I added a building as a business asset and was taking depuration on the amount in 2018 I paid it off the building add that amount to what is the best way

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Anita01
New Member

2014 I added a building as a business asset and was taking depuration on the amount in 2018 I paid it off the building add that amount to what is the best way

Paying off a mortgage on a building does not change anything about depreciation.  The building still has the same original cost, the same amount spent on improvements.  It continues to be depreciated for the same number of years.  You don't add anything for paying off a mortgage.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question