cpabsd Posted March 11, 2008 Report Share Posted March 11, 2008 Client received $2,000 in insurance reimbursement for tools and small equipment stolen from locked shed. They spent $898 to replace items and decided not to replace certain items. There are several small equipment purchases on the depreciation schedule but hard to identify which are for stolen property. Do I "sell" one of the equipment assets for the difference and call it equal? I'm not sure how to report. The entity is an S Corp if that matters. Quote Link to comment Share on other sites More sharing options...
RoyDaleOne Posted March 11, 2008 Report Share Posted March 11, 2008 That is what I would do. Quote Link to comment Share on other sites More sharing options...
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