Retire an asset
Retirement can be complete or partial.
note
The system doesn't perform bulk retirement. Retirement of an asset must be completed one asset at a time.
- In Asset Detail, indicate that the depreciable asset should be retired.
- You can enter the percentage of the asset to dispose, if it's not 100%.
- Enter the total regular cost of the original asset (denominator).
- If creating a partial disposition, first enter all of this asset's detail and turn off Auto Compute. Next selectCreate Partial Disposition.
- After you review, delete the original asset.noteIf the asset isn't retired on Form 4797, you must enter either a current year deduction for depreciation or enter the number of months to depreciate the asset.
