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Business & farm
@Critter-3 is correct.
If depreciation deductions had been taken on the phones on an annual basis, then there will be a loss to the extent of the remaining depreciation deductions not taken. If the phones were fully depreciated (e.g., zero basis), there will be no gain or loss on their disposal (if they were junked for $0).
‎September 12, 2022
7:30 AM