697881
This water heater was worn out with no value. This was junked not sold. I had previously depreciated it from rental. Form 4797 treats this as sales of Business property. Is this the correct Form? Thanks
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Yes.
As strange as it seems, you have to say you sold it for $0 even though you threw it away. The IRS does that because occasionally people sell these types of things for metal or scrap and they want to know if you got anything for it.
Yes.
As strange as it seems, you have to say you sold it for $0 even though you threw it away. The IRS does that because occasionally people sell these types of things for metal or scrap and they want to know if you got anything for it.
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