Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Mar 3, 2020 10:27:24 PM

Closing a business, disposing of assets: the date

Lets say a business closed Nov 15th. Do assets need to be disposed of by that date? so say business closed that 15th, but assets disposed of a couple weeks later on Dec 2nd. Is it okay to put disposal date past closed date? or is that a penalty or something?

 

thanks

0 1 467
1 Replies
Not applicable
Mar 3, 2020 11:00:17 PM

yes it's okay.