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tenderhearts 01:03 PM 02-21-2019
Hi Tom,

I had a question if you don't mind. I bought a new computer in 2018 which took place of a computer I purchased in 2016. Our tax preparer did the capital gains form I'm guessing to dispose of this, I did not sell the other computer it just broke down, anyways, I have disposed of others on my depreciation and have never had anyone fill out this form. Is this correct?
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Michael 02:36 PM 02-21-2019
Here is an earlier thread regarding depreciation on a computer: https://www.daycare.com/forum/showthread.php?t=91090
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tenderhearts 04:37 PM 02-21-2019
Thanks for the link but I don't really get it sorry. Hoping Tom can let me know. I'm super confused.
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TomCopeland 11:48 AM 02-22-2019
Originally Posted by tenderhearts:
Hi Tom,

I had a question if you don't mind. I bought a new computer in 2018 which took place of a computer I purchased in 2016. Our tax preparer did the capital gains form I'm guessing to dispose of this, I did not sell the other computer it just broke down, anyways, I have disposed of others on my depreciation and have never had anyone fill out this form. Is this correct?
If you were depreciating the first computer that broke, you can claim any remaining unclaimed depreciation in the year it broke. What form did your tax preparer use?
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tenderhearts 02:27 PM 02-22-2019
He put in on schedule D as a shorter-Term Capital Gains and Losses and form 8849
Under part 1 he filled out line 3, under cost E he put 200 then under column G for adjustments 200.
But when I look at Additional Income and Adjustments to Income Schedule 1 line 14 it lists 0, I'm confused.
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TomCopeland 04:21 PM 02-23-2019
Originally Posted by tenderhearts:
He put in on schedule D as a shorter-Term Capital Gains and Losses and form 8849
Under part 1 he filled out line 3, under cost E he put 200 then under column G for adjustments 200.
But when I look at Additional Income and Adjustments to Income Schedule 1 line 14 it lists 0, I'm confused.
I'm not an expert on Schedule D or Form 8849. However, if you disposed the computer and didn't sell it, and $200 represents the unclaimed depreciation, you should show a $200 loss that you can deduct as a business expense.
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Tags:capital gains, depreciation - computer, form 8849, tom copeland
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