How to report van destroyed in collision and was used for business

[Greenbriar]

Client is a schedule C roofer. In january 2013, his 2012 van was a total loss in a collision. Cost was 15,000, book value 6,000 and subject to about 8,000 depreciation recapture. Insurance reimbursed 14,000. I would think it's a business casualty loss on Schedule A but how do you deal with the depreciation recapture? Or do you treat it as a sale on the Schedule C truck worksheet with zero sales price and 14,000 insurance reimbursement and let the program calculate the depreciation recapture? Thanks.

[MAMalody]

I have not looked at one of these in a while, however, I seem to remember using Form 4684 and then the 4797. You might want to try Pub 547 and 544 for some examples.

[JON]

Insurance proceeds

used to replace or treat it with a gain or loss once insurance is in..