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Level 2
March 11, 2024
Solved

Irrevocable trust rental property no longer rental

  • March 11, 2024
  • 1 reply
  • 7 views

I have a rental property pur chased under an irrv simple trust for 3 years, now the beneficiary has moved into the property.  Property will remain in trust, but proseries is still calculating full years depreciation instead of 90 days.  

How do I correct the depreciation amount as property is not sold?

 

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Best answer by dclay58

Thank you.

1 reply

sjrcpa
Level 15
March 11, 2024

Enter a disposition date but don't enter anything for sales price, not even -0-.

The more I know the more I don’t know.
dclay58AuthorAnswer
Level 2
March 11, 2024

Thank you.