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Deductions & credits
You are correct. There is no manual entry for depreciation in TurboTax.
To claim the remaining basis for the asset, report that you no longer use it for your business. Report a Sales Price of zero. You will receive the depreciation expense as usual for the year and a long-term capital loss for the remaining basis on Form 4797. You can track the calculations for these two items on the Asset Entry worksheet in Forms Mode, under Dispositions.
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March 23, 2025
6:52 AM