Retiring an asset

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When an asset is retired, depreciation is not taken in the year of retirement or any subsequent year. The asset remains until the disposal method is changed to Casualty / Theft, Sold / Scrapped, or Like-Kind Exchange. In addition:

If prior depreciation is calculated after an asset is placed back into service, the application calculates the entire prior depreciation as if the asset was never retired.

Related topics

Entering disposal information

Disposal methods

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