stop depr on rental converted to residence

Forum|Forum|5 years ago
April 12, 2021
3 replies
7 views

Other than overriding to not have any current depreciation by asset - is there a way to stop the depreciation on a rental that has been converted to a residence? Want to keep the schedules and basis there so that when rerented or sold is available. Do I need to override each asset current year depr manually annually? I do not see a check box to stop....thanks!

Lacerte Tax

This topic has been closed for replies.

George4Tacks

Level 15

The only way to stop will also make it go away. Keep a copy of the current year depreciation schedule for later reference.

For each asset, enter a date of sale (You can use Ctrl + down arrow to jump to the next entry). DO NOT enter a sale price. On the rental you can enter a 2=delete next year, if you don't want it to show up on the organizer.

Answers are easy. Questions are hard!