@SML654987 wrote:
Yes, of course. Remaining depreciation is a loss, as stated in my question.
I had no problem with the program when entering, and disposing of (junking), a phone on a test return (1120-S in TurboTax Business).
You should be aware, however, that the loss is ordinary due to the fact that the phone was business property regardless of the holding period.
Thus, if the phone had been held longer than one year, the transaction belongs in Part I. If held for one year or less, it is entered in Part II. Either way the remaining depreciation is treated as an ordinary loss.
