Do you have to report the "sale, removal, or donation" of ANY business asset, even those that are old and have no real value, like a chair or old tools when you file your business tax return under the "Sale of Business Assets" section in TurboTax?

If you sell a business asset, you definitely need to report it.  If you have old, fully depreciated assets that you dispose of by donating or giving,/throwing away, technically you should report the disposal, but if the cost basis is zero, and the proceeds are zero, then reporting won't have any effect on your tax return as there will be no gain or loss.  I will get it off your asset  listing and depreciation schedules.