kharts
New Member

How do I list the sale of a musical instrument that has been depreciated? I sold it for $11,500. I bought it for $12,900. I think it has been fully depreciated.

I bought the harp in 2009 for $12,900.  My depreciation schedule says CUR. 179/SDA is $12,900.  Does that mean I fully depreciated it?  So how do I list the sale of the harp for $11,500?  Is that a loss?  Or if it is depreciated, does that mean it's a gain?  Help!!