Placing an asset out of service

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When an asset is placed out of service, depreciation is not taken after the date placed out of service. The asset remains until the disposal method is changed to Casualty / Theft, Sold / Scrapped, or Like-Kind Exchange, even if the period is advanced. In addition:

Note: If prior depreciation is calculated by the program after placing the asset back in service, it still calculates the entire prior depreciation as if the asset was never placed out of service.

Related topics

Entering disposal information

Disposal methods

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