MaxA1
Expert Alumni

Get your taxes done using TurboTax

The correct thing to do is depreciate $4,600 ($5,400-$800) of your heat pump.  If you don't report your 1099G, this may create a matching issue with the IRS and you may get an IRS notice about it.

 

[Edited 03/01/26 | 10:124 am PST]

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"