When closing business, still have to "dispose" of business property even if still own (not selling or donating)?

[orchid9]

We are closing our business at this location, do I still have to dispose of business property even though we still own it?  We plan on using this business property when we open in another state.   A little confusing as it states in explanation... you no longer own the asset.  

[Critter · Accepted solution]

In the program you need to take all the assets out of service to stop the depreciation even if they are actually sold but converted to personal use ... then later you will add them back into the asset section of the new business. 

[orchid9]

Thank you!