Question
Stop using Home Office
Hi everyone,
Client stopped using their home office, so depreciation should be stopped. However, he is still working as self-employed and will receive a 1099-NEC and file Schedule C for the next year.
What I found in the Common Questions section is:
Follow these steps to stop depreciation on an asset:
- Open the Asset Entry Worksheet.
- Scroll down to the Dispositions section.
- Locate the Date of Disposition field.
- Enter the date the asset was no longer used for business.
- Do not complete the rest of the Disposition section.
Do you think that would be enough to inform the IRS that the client stopped using the home office?
Any help!
