turbotax icon
turbotax icon
turbotax icon
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I got a new camper for my business and destoried the old one it was in terrible condition

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MichaelMc
New Member

I got a new camper for my business and destoried the old one it was in terrible condition

You need to treat the new one as the acquisition of a business asset. You may choose to depreciate it or take advantage of the Sec. 179 deduction.

The old camper's destruction amounts to the abandonment of a business asset. Treat it as a disposition with a zero (0) sales price.

For more information, please read this TurboTax FAQ: https://turbotax.intuit.com/tax-tips/small-business-taxes/managing-assets/L18WqppFX


Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies