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TT-Business 2020, sold a rental that I added a depreciated item of roof, After clicking sold house, the roof is still showing???

Forum|Forum|5 years ago
February 3, 2021
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I'm finding that there needs to be more help when adding capitalizable items within a "property" that is hooked to that property so that whn you sell the property all of its sub pieces of capitalized improvements also get handled at the same time...

Perhaps I mis entered the capitalizable items way back. What I have now is;

- House A was sold. I click through that work flow.

- I come back to the "Disposed Assets" list and the roof and/or AC is still showing. When I click Edit for the roof, sold, there is no logical choice to have the roof costs, depreciation to be properly handled within the sale of the house??

Help?? Tnx a bunch.

TurboTax Business Windows

Best answer by curt504

No this is the roof. That I added some years back and little proper help from TT business if I miss entered it.

Its a capitalized asset that needs to be included in the calc of the whole numbers for the sale.

How do I fix this situation?

- An apparently separate asset listed in TT business real estate per an address that is actually integral to the house (roof) and needs to be included in the sale?

tnx

ColeenD3

If you have assets apart from the building, you will have to go through the steps of the sale for each of them. Since the sales price was part of the house, you can put zero for sales price.

C

curt504AuthorAnswer

No this is the roof. That I added some years back and little proper help from TT business if I miss entered it.

Its a capitalized asset that needs to be included in the calc of the whole numbers for the sale.

How do I fix this situation?

- An apparently separate asset listed in TT business real estate per an address that is actually integral to the house (roof) and needs to be included in the sale?

tnx