About SML654987

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Solved Re: How to deduct junked phones with loss. Form 4797 does not seem a...

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...

SML654987

3

Updated Sep 13, 2022
Solved Re: How to deduct junked phones with loss. Form 4797 does not seem a...

I must be using a different version of TurboTax. I am using the business version installed on my PC.

SML654987

Updated Sep 13, 2022
Solved Re: How to deduct junked phones with loss. Form 4797 does not seem a...

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 ...

SML654987

Updated Sep 13, 2022
Solved Re: How to deduct junked phones with loss. Form 4797 does not seem a...

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...

SML654987

Updated Sep 13, 2022
Solved Re: How to deduct junked phones with loss. Form 4797 does not seem a...

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...

SML654987

4

Updated Sep 13, 2022

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Date Registered	‎September 11, 2022 4:39 PM
Date Last Visited	‎September 14, 2022 10:17 AM
Total Messages Posted	7

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