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.
This discussion has been locked. No new contributions can be made. You may start a new discussion here
Someone else reported something similar a few days ago, turned out they had unallowed losses due to income limits that limited that loss...could this be your situation as well?
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.