2912190
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Mo__
Returning Member

Loss on sale of fixed assets

Where can I claim deductions for a loss on sale of fixed assets? I can't find a proper place where I can show this loss. 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Loss on sale of fixed assets

in the asset worksheet, you indicate the sales price. TurboTax will calculate the loss and carry it to the appropriate form  - 4797. should you have already deducted the full cost of the asset either through depreciation or by expensing the cost when acquired you will now have income equal to the proceeds. 

 

 

Mo__
Returning Member

Loss on sale of fixed assets

Thanks! How do I get to the assets worksheet?

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question