Skip to main content
Level 1
December 7, 2019
Solved

How do you report a business casualty loss when the asset is a total loss? Need to remove from depreciation schedule

  • December 7, 2019
  • 2 replies
  • 24 views

I need to report a casualty loss on a partnership return.  The asset has no value and has not yet been replaced.  Ho do you report the total loss and remove from the depreciation schedule?

This topic has been closed for replies.
Best answer by sjrcpa

In the Depreciation screen for that asset, mark the disposition date, then go down to the Casualty/Theft 4684 section

2 replies

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

In the Depreciation screen for that asset, mark the disposition date, then go down to the Casualty/Theft 4684 section

The more I know the more I don’t know.
Level 2
December 7, 2019
I need this same information.  In regards to your answer, there is not CasualtyTheft section at the bottom...help.