SML654987
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Yes, of course. Remaining depreciation is a loss, as stated in my question.My issue is how to get the ordinary loss in Part II of the 4797 as the items were jun...
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I must be using a different version of TurboTax. I am using the business version installed on my PC.
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As much as I want to trust software. "An abandonment of property is not treated as a sale or exchange. Thus, an abandonment loss is an ordinary loss regardless ...
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I know that TurboTax instructs us to "sell" them even though we did not sell them, but after reading publication 544, etc., they belong in section II of the 479...
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Business phones, not Sec 179, and $400 left to depreciate when abandoned.I think I figured it out. I can override "Part I" with "Part II" for the 4797, which mo...
Activity Feed for SML654987
- Cheered Re: How to deduct junked phones with loss. Form 4797 does not seem appropriate as they were not sold. for AmeliesUncle. September 14, 2022 6:49 AM
- Cheered Re: How to deduct junked phones with loss. Form 4797 does not seem appropriate as they were not sold. for Anonymous_. September 14, 2022 6:49 AM
- Posted Re: How to deduct junked phones with loss. Form 4797 does not seem appropriate as they were not sold. on Business & farm. September 12, 2022 8:12 AM
- Posted Re: How to deduct junked phones with loss. Form 4797 does not seem appropriate as they were not sold. on Business & farm. September 12, 2022 8:06 AM
- Posted Re: How to deduct junked phones with loss. Form 4797 does not seem appropriate as they were not sold. on Business & farm. September 11, 2022 6:21 PM
- Posted Re: How to deduct junked phones with loss. Form 4797 does not seem appropriate as they were not sold. on Business & farm. September 11, 2022 6:00 PM
- Posted Re: How to deduct junked phones with loss. Form 4797 does not seem appropriate as they were not sold. on Business & farm. September 11, 2022 5:58 PM
- Posted Re: How to deduct junked phones with loss. Form 4797 does not seem appropriate as they were not sold. on Business & farm. September 11, 2022 5:39 PM
- Posted How to deduct junked phones with loss. Form 4797 does not seem appropriate as they were not sold. on Business & farm. September 11, 2022 5:24 PM