n3stefaniak
Level 1
07-13-2020
11:23 AM
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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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Just-Lisa-Now-
Level 15
07-13-2020
12:20 PM
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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♥¸¸.•*¨*•♫♪