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Level 2
March 21, 2020
Solved

How to remove auto that is being depreciated on Schedule C that was wrecked?

  • March 21, 2020
  • 1 reply
  • 15 views

Auto purchased in 2018 was wrecked in 2019.  Auto was totaled.  Auto was being reported on Schedule C.  New auto purchased in 2019.  Need to report loss of auto.

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Best answer by abctax55

Research § 1033 exchanges & casualty losses (for the personal portion).

1 reply

abctax55
abctax55Answer
Level 15
March 21, 2020

Research § 1033 exchanges & casualty losses (for the personal portion).

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