2008653
Rental property: I'm depreciating an A/C compressor and air handler installed several years ago as a single system. I paid a non-itemized price for the system. Last year (2020) I had to replace the compressor but NOT the associated air handler. How can I segregate the old compressor cost from the original combined system cost in order to claim a loss for that one item?
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Problem solved!
For anyone interested I found this answer in the TTax forums.
I discovered I needed to simply delete the original asset then add its constituent parts as outlined here:
My thanks to EXPERT AnnetteB6 for this simple solution.
I was seeing the issue incorrectly. I was attempting (incorrectly) to modify an existing old asset.
As always, things become much simpler once you see the explanation.
Problem solved!
For anyone interested I found this answer in the TTax forums.
I discovered I needed to simply delete the original asset then add its constituent parts as outlined here:
My thanks to EXPERT AnnetteB6 for this simple solution.
I was seeing the issue incorrectly. I was attempting (incorrectly) to modify an existing old asset.
As always, things become much simpler once you see the explanation.
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