For some reason I thought I had to look at like, the depreciation value of my old fridge or whatever.
Apparently, since you're using the online version, you don't see the same screens I do in the CD version. Basically, if you have assets (such as the fridge) that were damage beyond repair and you discarded them, then there's a few things to keep in mind in claiming a loss for those items.
- For listed assets that are "not" classified as rental real estate, you'll just work through the asset and on the screen asking you "Special Handling Required?" you'll select No. The next screen will ask you for sales information. (You sold it to the insurance company). Your sales price will be $0. That way, the remaining amount of depreciation not yet taken is accounted for with the program (not you) figuring the monetary loss for you.
