Hello,

I have a tax client who bought a $35,000 vehicle for his business. He did not have it insured yet, and  his daughter took it and got into an accident and totaled the vehicle. What portion is deductible on his sole proprietorship return? Can I claim the whole thing as a loss? I can't find any really good or detailed information on how to account for a partial or total loss on his Schedule C .(The daughter is 16 years-old).

Thank you