Question

How to claim a deduction for theft of utility trailer used in my business. The trailer was purchased in 2018 and the full 179 expense was taken in that tax year.

Forum|Forum|6 years ago
January 29, 2020
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Employee

Form 4684 would be used, if you qualify. Because you sec 179 expensed the entire trailer, you have no basis left in the trailer. You may have had a basis for the contents, unless all that was written off.

As a business, you should have had insurance to file a claim on. If you indeed have a basis left after all of the write offs and insurance reimbursements, you will file form 4684.

Business casualty and loss- complete directions to filing.

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