Form is 4797. It is for Sale of Business Property and Involuntary Conversions of Assets.

Yes. If it is the Original Roof, then Write Down cannot be used. But the Owner is depreciating the Roof. This means that it is not the Original Roof that came w...

Sometimes an Asset has to be replaced before it's Tax Life is completed. For example, Roof on a Rental Property is depreciated at 27.5 years of Tax Life. Actual...

Follow the Interview Process in Turbotax. This situation is handled properly there. Look at the Answer I gave first.

None of the items mentioned here are relevant in Tax Accounting. Turbotax calculates the Taxes according to the Tax Accounting Rules. Forms are generated accord...