Hi,
I sold $7,000 worth of business camera equipment in 2021. I previously purchased it for $10,000 in 2017 & 2018 and it was expensed for that full 10k value as a 179 deduction in those years (it was used 100% for business).
Since I sold it for $7,000 in 2021, I believe I should now be paying taxes on that 7K amount, essentially as if it's income, since I previously took the full deduction of $10,000. Where / how do I enter this in turbo tax? (I'm a sole-proprietor)
Thank you!
