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depreciation recapture |
Also found in: Wikipedia | 0.06 sec. |
depreciation recapture A procedure the IRS uses to maximize tax revenue from depreciating assets by requiring the profit on the sale of a depreciating asset to be reported as ordinary income rather than capital gain. Because capital gains are taxed at a lower rate than most ordinary income, the IRS uses depreciating recapture to make up for some of the tax revenue lost in the depreciating asset. Depreciation recapture is assessed if the assets are sold for a price higher than their depreciated value. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Under the current tax laws, when owners/investors sell a property, they must pay capital gains tax and depreciation recapture taxes on any gain. 1245 property can trigger significant depreciation recapture rules. 1245 property is tangible personal property subject to depreciation recapture at ordinary income tax rates. |
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