Margaret CPA in OH Posted February 10, 2019 Report Share Posted February 10, 2019 Client had rental vacated in July 2017 so decided to leave vacant and renovate for sale. Sale took place in February 2018. In January 2018 I had the total for the renovations paid in 2017 and booked but did not depreciate. However I did not dispose (or take out of service) the earlier building costs for 2017 as they were going to rent again if it didn't sell. In ATX was there a better option to choose for 2017 with knowns/unknowns? Is an amended return required? What normally happens when a rental is removed from service for a period of time? Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted February 10, 2019 Author Report Share Posted February 10, 2019 Nevermind - I just looked again at that 2017 return and actually did it correctly depreciating everything for just a half year but didn't dispose as waiting for the sale. Yay, me! Note to self - do a better job of reviewing situation before asking already answered questions. 2 Quote Link to comment Share on other sites More sharing options...
Catherine Posted February 12, 2019 Report Share Posted February 12, 2019 On 2/10/2019 at 6:07 PM, Margaret CPA in OH said: Note to self - do a better job of reviewing situation before asking already answered questions. As if we ALL have not done that exact same thing from time to time. I am convinced that it is the asking of the questions, in print/online, that jars the memory enough in these cases. But the memory retrieval is not activated until after you hit "send." 2 Quote Link to comment Share on other sites More sharing options...
Catherine Posted February 12, 2019 Report Share Posted February 12, 2019 On 2/10/2019 at 6:07 PM, Margaret CPA in OH said: Note to self - do a better job of reviewing situation before asking already answered questions. As if we ALL have not done that exact same thing from time to time. I am convinced that it is the asking of the questions, in print/online, that jars the memory enough in these cases. But the memory retrieval is not activated until after you hit "send." Quote Link to comment Share on other sites More sharing options...
Catherine Posted February 12, 2019 Report Share Posted February 12, 2019 On 2/10/2019 at 6:07 PM, Margaret CPA in OH said: Note to self - do a better job of reviewing situation before asking already answered questions. As if we ALL have not done that exact same thing from time to time. I am convinced that it is the asking of the questions, in print/online, that jars the memory enough in these cases. But the memory retrieval is not activated until after you hit "send." Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted February 12, 2019 Author Report Share Posted February 12, 2019 Now that's funny - triple posting the reassuring reply. Ah, the memory retrieval thing - it gets increasingly weak these days. 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.