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How do you report a business casualty loss when the asset is a total loss? Need to remove from depreciation schedule

blandwehr
Level 1

I need to report a casualty loss on a partnership return.  The asset has no value and has not yet been replaced.  Ho do you report the total loss and remove from the depreciation schedule?

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sjrcpa
Level 15

In the Depreciation screen for that asset, mark the disposition date, then go down to the Casualty/Theft 4684 section


Ex-AllStar

View solution in original post

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2 Comments 2
sjrcpa
Level 15

In the Depreciation screen for that asset, mark the disposition date, then go down to the Casualty/Theft 4684 section


Ex-AllStar
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CrystalClear
Level 1
I need this same information.  In regards to your answer, there is not CasualtyTheft section at the bottom...help.
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