Well, when I close out the asset on Schedule F, it then shows a loss of $12797 ($33,800 basis minus depreciation from '20, '21, and 1/1/22 to 5/1/22.) when I us...
OK, so how exactly do I do this? I have a handle on disposing of an asset, but this asset is being transferred. Do I used the original sales price as the basis ...
There is a "taxable income" line on the Schedule F. Make sure it ends up there as grants are generally taxable and TT doesn't necessarily do that for you.