- quote -

Some of these items are old computer software/hardware no
longer in active use. Others have been converted for use in
the partnership but I didn't do so in any formal way.

In any case since we're only talking about relatively small
dollar amounts, I'd rather just forget about them, as long
as it is legit and won't raise any flags with the IRS.

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D. Stussy wrote:
- quote -

Yep.
But only if still used to earn income. Possible they just
don't fit in with present day business environment.

Christmas Cheer$,
Coop

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Harlan Lunsford wrote:
- quote -

OK -- but the depreciation abandoned IS subject to recapture
if the asset is sold. I'm not sure it's technically legal,
but I don't see that it would raise any red flags with the
IRS either way.

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Harlan Lunsford wrote:
- quote -

True; no schedule C, but how about these items on Schedule A
or E (if not converted outright to partnership property) as
unreimbursed partnership expenses....

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DaveR wrote:

- quote -

Nope.

- quote -

Yep.

- quote -

Nope.
And I wouldn't bother since you say it's low dollar depreciation.

Cheer$,
Gary Cooper, aka
Harlan Lunsford, EA n LA

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I had been a sole proprietor for 7 years, receiving
consulting income via 1099-MISC. This year, I did not
receive any 1099-MISC income, as my consulting income was
transitioned to an LLC Partnership.

Do I still need to file a Schedule C this year?

I still have some depreciation from prior year purchases
that I could take as deductions on Schedule C this year, but
they are minimal and would amount to only a few dollars. Is
it OK just to abandon these depreciations and not bother
with Schedule C this year?

Would it raise any potential audit flags with the IRS if I
do not file Sch. C? If I do file, it would show a small loss
due to the depreciations, after many years of profit, so
that might also raise a red flag.

Any advice would be appreciated.

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