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Level 1
May 11, 2020
Question

adjustment to depreciation

  • May 11, 2020
  • 1 reply
  • 8 views

How do I adjust the amount of depreciation on a car sold in 2019 and bought in 2015. The taxpayer used the standard mileage rate every year?

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1 reply

George4Tacks
Level 15
May 11, 2020

I assume you are want to do a sale. Enter the sale date only in the depreciation screen.

Go to the disposition screen and enter the sale and put the computed depreciation in the 4797 section. I will plug in for Tax Tools, it does this computation and much more. 

Answers are easy. Questions are hard!