You're going to enter the asset with a disposal date of the last day of the business. The business will "sell" the asset with a sale price of zero dollars. This results in a loss on the sale of whatever the value of the asset was and the loss will pass through on the K-1s to the stockholders.
Alternatively, the asset can be sold for its disposal value (if it is scrapped, for instance) or sold for the exact amount of its value if the owners are just going to take it home so that there is no loss.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
