I have a computer and printer that I started using for my business in 2005 they have been depreciated and they have both stopped working this last year so I trashed them both. What do I need to do to get them off my taxes and depreciation schedule? The cost of the computer was 545 with a 75% business use so my basis was 409. The printer cost 160 with a 50% business use and 62 of depreciation. Seems this creates a loss but do I have to show it. I rather just zero it all out if possible. I have already purchased another printer and computer and have been depreciating them.
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I guess it depends on how picky you are. As I recall; abandoned equipment goes on the front page, bottom half of 4797. You're supposed to put it there; but if you don't want to fool with it 'cause it's not worth the trouble (and this low-dollar case looks that way) you can simply have your tax program delete those two items and (in the real world) you'll never hear anything else about it ever again. IRS keypunchers aren't matching detailed depreciation schedules or your old, fully/partly depreciated equipment with anything. They simply enter what's on line 13 of your Schedule C and that's that. On the other hand, if it was a car, then I'd do it according to Hoyle....
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