Our company is based in Maryland and I'm filling out the Form 1 and balance sheet.
We disposed of an asset that was purchased in 2010 for $433. On the form 4c, I'm putting we disposed of the depreciated value of $271.
My question is on the form 1, should I subtract the original amount from the table? Or will form 1 just not balance with the balance sheet after this.
Either way it doesn't even matter, we don't pay taxes as a nonprofit doing business in a tax exempt city in Maryland. But we are required to submit it any way!
Thanks!!!
