Rental taken out of service during the year

Forum|Forum|6 years ago
February 15, 2020
2 replies
20 views

UPDATED:

Pub 946 - You cannot depreciate property disposed of in the same year it was placed into service. ANSWERED 🙂

Taxpayer placed a property into service July though November.

How can I show the property was removed from service in November to stop Depreciation for the month of December?

Lacerte Tax

This topic has been closed for replies.

Best answer by jenhorton

Found the answer by using The TaxBook WebLibrary - It was soooo easy to search and find the correct pub, and just as easy to search the pub for the key word that got me to the answer! Well worth the price - NATP members, it's an upgrade to your membership!

George4Tacks

Level 15

jenhorton did a wonderful job of answering their own question
Pub 946 - You cannot depreciate property disposed of in the same year it was placed into service.
CONGRATULATIONS ON A GOOD JOB

Answers are easy. Questions are hard!

jenhortonAuthorAnswer

Level 4

Found the answer by using The TaxBook WebLibrary - It was soooo easy to search and find the correct pub, and just as easy to search the pub for the key word that got me to the answer! Well worth the price - NATP members, it's an upgrade to your membership!

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