That is pretty much what I was leaning towards, that is, leaving the proceed field "blank" and take the charitable deduction on Schedule A, especially that after testing each option separately in Lacerte, in this case the tax benefit came out better when using the charitable deduction.

PS For the sake of record, I think it is better to dispose of the asset than deleting it.

Thank you for you input TaxGuy Bill, much appreciated.

Diane