deleting sch c

[bstaxes]

Client had small business in 2007. In 2008 he did not have any income or expenses except depreciation. Sch C is showing depreciation and I want to eliminate the sch c for 2008 but not lose the depreciation. He is doing business in 2009. Can I discard sch c and still have the depreciation to carry forward to 2009? I had clients who have ended their business but never one to put in on hold. Thanks.

[kcjenkins]

You can do it, but it's best if you do it in the right order. BEFORE you delete the C, go to the Asset Entry form. For the assets, reassign them, either to the Sch A, or just 'unassigned'. Then you can change the business percentage to zero, assuming you are not using them in 08. Then, when you eliminate the Sch C, there should be no problem with the assets just sitting there, although you may get some messages about them when you check the return for errors.

If you just delete the Sch C, the assets will automatically turn to 'unassigned' but I don't know if it would cause any other problem.

[bstaxes]

Thanks KC that makes sense. It is a good day because I learned something today.

[jainen]

>>I don't know if it would cause any other problem<<

Doesn't ATX allow you to make a backup copy of any one file? I use different software, but routinely create dummy files for planning and testing. Another way that might work is to leave the Schedule C in place but with no income/expense numbers, overriding the current depreciation to zero on each asset. If you can do that, everything will already be set up for 2009 with no further entries.

[michaelmars]

unfortuneately you can't leave a "0" sch c in a return and efile, you get a RED errir warning

[jainen]

>>you can't leave a "0" sch c in a return and efile<<

Sure you can. Just set up the return to carry over, then make a copy that you adjust for the current e-file.