DGEmbry
Level 3

My client is giving depreciated property of adj. salvage value of $3000.  If I record the disposition of the assets (depreciation scree) with a $0 proceed, if generates a $3000 loss. However, the client has a charitable contribution receipt from the organization, which will allow a $3000 noncash contribution.

How do I enter the transaction without double dipping  1- in business loss and 2- in charitable contribution.

Thank you!

Diane