Writeoff Capital Cost

Discussion in 'Accounting Software' started by Hans Chen, Apr 7, 2011.

  1. Hans Chen

    Hans Chen Guest

    Dear Lister

    We have done the depreciation of the capital cost which include legal
    fee, consulting fee and now we found the capital costs are equal to
    the accumulated depreciation and book values are zero

    I just wonder whether we can write off the capital cost(legal fee,
    consulting fee etc for building). Thanks for your help!

    Han
     
    Hans Chen, Apr 7, 2011
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  2. Hans Chen

    mackwaa

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    Legal fees should be included in the capital cost of the building. Have you seperated them in some way?

    If that cost now equals the accum dep you have essentially already written off the full cost of the building (including legal fees).

    So you've done everything you need to do until you sell the property or its revalued.
     
    mackwaa, Sep 23, 2011
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