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Level 2
May 17, 2020
Question

Theft of A depreciated Asset

  • May 17, 2020
  • 1 reply
  • 11 views

How do I dispose of A depreciated Asset ? There is no gain or loss. Do I place 0.00 for the sale on the Asset Worksheet or If I enter it on form 4797 as a Theft, how do I link it to the asset? Or do I just erase it Asset Worksheet??

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1 reply

IRonMaN
Level 15
May 17, 2020

The asset was in effect sold for zero so go ahead and enter zero as a selling price.

Slava Ukraini!