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J
justintccasey
April 15, 2025
Question

Can *only* depreciable items should be entered in the Business Asset Summary Page? Or any property purchased and owned by the business that year?

  • April 15, 2025
  • 1 reply
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    J
    JamesG1
    April 15, 2025

    Intangible property, amortized property and land improvements may be reported in the Business Asset Summary Page.

     

    Property other than depreciable property or amortized property is expensed in the current year and does not need to be recorded and retained from year-to-year.

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