Ok thanks….couple questions…what about an appliance that is only 3 years old and is on a 5 year schedule?the house was purchased in 2007 and the sewer was only ...
Ok but if you assign $0 to the sales price then it is neither a gain or loss and the IRS doesn’t get that depreciation I took on it years ago back….is that ok o...
Ok so every asset do the original cost plus $1 and enter that as the selling price for each item, add those up and subtract from the sale price and that number ...
Ok that makes sense on how to enter it assuming every asset you have ever had has to have the depreciation recaptured….but people talk about putting the FMV val...
So for an appliance still in use but maybe 8 years old that is fully depreciated what does the IRS want? If it was $1000 brand new and it has depreciated fully ...
