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There is NO way to alter computed column. You have to drop and recreate it.

Let’s say you have a table with 3 column. And the 3rd one is the sum of the other two:

CREATE TABLE MyTable (Column1 int, Column2 int, Column3 AS Column1 + Column2);

If you want to change that computed column as multiply of the other two. Then:

-- First, You must Drop The Computed Column
ALTER TABLE MyTable
DROP COLUMN Column3;

-- And Then You can Create The New Computed Column
ALTER TABLE MyTable
ADD Column3 AS Column1 * Column2;