Deductions & credits

Thank you Mike for your response.

The equipment was taken to a recycle place for recycling when I ended the warehouse's lease last year. These assets have no any value at all.

Could you please elaborate a little bit how to report this on the S Corp return?

The shareholder's basis is $27,900. Is all that amount to be distributed to shareholders, which in my case, it's only me?

Thank you.