Disposition of Schedule C Depreciated Assets after business closes
by LakeviewGal, Window Shopper
- Created: March 30, 2010, 7:22 am
Hi! Through the end of 2008, I had a Schedule C business (sales). Because I traveled a lot, to trade shows and the like, I purchased a motor home. I used the motor home for business purposes less than 50% of the time, and depreciated the business portion of this item. I also purchased a cash register, 100% for business use, and depreciated that item.
At the end of 2008, I decided not to continue the business. Now, for 2009, how do I account for (1) the partially depreciated motor home (and two items I purchased for the motor home - also partially depreciated), and (2) the cash register which was sold for less than the remaining undepreciated value.
I've tried the IRS site to no avail, and have currently been on hold with the IRS 1-800 number for 35 minutes.
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