Business deductions

[Frieb]

Facts:

- I have a MacBook Pro PC, acquired at the end of 2019.  I acquired this asset when I retired from my business at a cost of $0.

- The asset was valued at $2000, and is now worth $1500.

- I contributed this asset to my LLC at the beginning of 2020, and used that asset throughout the year.

- Can my LLC A) expense the asset for $1,500, or B) depreciated the asset valued at $1,500 (and do it in one year as a 179 deduction), or C) neither, as I didn't pay for the asset initially.

[ColeenD3]

Neither. You have zero cost.