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

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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

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