Question
Deduction of a loss on disposal of an asset
I dispose of an asset with a sales price of zero with a cost of $36,495 and accumulated depreciation of $6,083. On the asset entry worksheet, the loss is $30,412 but the loss on Form 4797, Part I, Line 2 is only $22,028. I don't see the other $8,384 of loss on the Form 4797 or on Schedule D. Any ideas to address this? I can override the amount, but am afraid that efiling would be rejected.
