Client moved into his rental in 2009 that he has been depreciating since 2006. All my other clients sold their rentals so this is a first for me. Is this considered a "dispostion"?
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No, it is not. Whenever he sells the place, depreciation needs to be recaptured. Until then the whole thing is just dormant. -
Print the depreciation record and keep it for when the property sells. Open the asset entry form and enter the disposition date as the date he quit renting the property.
Do not enter anything else below the date.Believe nothing you have not personally researched and verified.Comment
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