Quite often, companies sell their own property much cheaper than they originally purchased, since in some cases it is necessary to quickly sell unused fixed assets. As a result of such a transaction, the company receives a significant loss, but such a transaction must be reflected in accounting and tax accounting, taking into account some of the nuances.
Instructions
Step 1
The Tax Code states that when selling fixed assets, an organization must compare two quantities: sales proceeds, excluding VAT, the residual value, and expenses that are directly related to the sale. In the event that the first value has a lower indicator than the second, a loss appears.
Step 2
In tax accounting, write off the loss to other expenses in equal parts and within a certain period, which is equal to the difference between the actual useful life before the property was sold and the useful life of the property. Write off losses starting from the month following the month of the sale of the property.
Step 3
Losses from the sale of property in accounting should be reflected in the full amount, and only in the period when the unprofitable transaction took place. The difference between accounting and tax accounting creates a temporary deductible difference giving rise to a deferred tax asset.
Step 4
For example, an enterprise has a fixed asset on its balance sheet, the initial cost of which, both according to accounting data and according to tax accounting data, is 100,000 rubles. Its useful life is 12 months, the accrued depreciation at the beginning of May of the current year is 50,000 rubles, the residual value is equal to the difference between the original cost and the accrued depreciation, and the period of actual use has reached 6 months.
Step 5
In May, the organization sold the property for 60 00 rubles, making the following entries: "Disposal of fixed assets" Debit No. 01 - "Fixed assets in operation", credit of account No. 01. As a result, the initial cost of the object will be shown. Then the proceeds from the sale of the object are shown: "Debit No. 62 - Credit No. 91"; accrual of value added tax: "Debit No. 91 - Credit No. 68"; retirement of fixed assets, that is, write-off of depreciation: "Debit No. 02 - Credit No. 01"; write-off of the residual value of the object: "Debit No. 99 - Credit No. 91".
60,000 - VAT - (100,000 - 50,000) - the total will be equal to the amount of loss from the sale of property.
Step 6
There is an opinion that when the property is sold at a loss, the company must recover VAT, which was accepted for deduction and accounted for the amortized cost.
