Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 

I had a business laptop stolen this year, and a replacement was covered through insurance. There was a $1,000 deductible, and I'm not sure how I should report this

 
1 Best answer

Accepted Solutions

I had a business laptop stolen this year, and a replacement was covered through insurance. There was a $1,000 deductible, and I'm not sure how I should report this

Show the old laptop as a disposal for the either the original cost or the proceeds from the insurance, whichever is lower.  Show the new laptop as an addition at the full purchase price.

View solution in original post

1 Reply

I had a business laptop stolen this year, and a replacement was covered through insurance. There was a $1,000 deductible, and I'm not sure how I should report this

Show the old laptop as a disposal for the either the original cost or the proceeds from the insurance, whichever is lower.  Show the new laptop as an addition at the full purchase price.