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Deduction of a loss on disposal of an asset

n3stefaniak
Level 1

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.

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1 Comment 1
Just-Lisa-Now-
Level 15
Level 15

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?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪