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I junked out a furnace boiler unit in my business. The asset still has basis left in it. This is an ordinary loss on Form 4797. Where in Turbotax do I report this?

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I junked out a furnace boiler unit in my business. The asset still has basis left in it. This is an ordinary loss on Form 4797. Where in Turbotax do I report this?

Are you in the Business or Home and Business program? This answer is for self-employed persons, but may also be the same for other businesses.

Go through the asset section. Enter the date you retired the asset and a zero sales price.

Abandoning an asset

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