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- Depreciation_recapture abstract "Depreciation recapture is the USA Internal Revenue Service (IRS) procedure for collecting income tax on a gain realized by a taxpayer when the taxpayer disposes of an asset that had previously provided an offset to ordinary income for the taxpayer through depreciation. In other words, because the IRS allows a taxpayer to deduct the depreciation of an asset from the taxpayer’s ordinary income, the taxpayer has to report any gain from the disposal of the asset (up to the recomputed basis) as ordinary income, not as a capital gain. Any gain over the recomputed basis will be taxed as a capital gain in accordance with section 1231 of the Internal Revenue Code (IRC). This article is about the system used in the USA and Canada, but other countries have similar procedures. In the UK, HMRC uses "negative depreciation".Depreciation recapture in the USA is governed by sections 1245 and 1250 of the IRC.".
- Depreciation_recapture wikiPageExternalLink title26.html.
- Depreciation_recapture wikiPageExternalLink www.irs.gov.
- Depreciation_recapture wikiPageID "13509387".
- Depreciation_recapture wikiPageRevisionID "586069516".
- Depreciation_recapture hasPhotoCollection Depreciation_recapture.
- Depreciation_recapture subject Category:Income_taxes.
- Depreciation_recapture subject Category:Taxation_in_the_United_States.
- Depreciation_recapture type Abstraction100002137.
- Depreciation_recapture type Charge113400798.
- Depreciation_recapture type IncomeTax113310230.
- Depreciation_recapture type IncomeTaxes.
- Depreciation_recapture type Levy113308864.
- Depreciation_recapture type Liabilities113396054.
- Depreciation_recapture type Possession100032613.
- Depreciation_recapture type Relation100031921.
- Depreciation_recapture type Tax113308999.
- Depreciation_recapture comment "Depreciation recapture is the USA Internal Revenue Service (IRS) procedure for collecting income tax on a gain realized by a taxpayer when the taxpayer disposes of an asset that had previously provided an offset to ordinary income for the taxpayer through depreciation.".
- Depreciation_recapture label "Depreciation recapture".
- Depreciation_recapture sameAs m.03c7p4n.
- Depreciation_recapture sameAs Q5260825.
- Depreciation_recapture sameAs Q5260825.
- Depreciation_recapture sameAs Depreciation_recapture.
- Depreciation_recapture wasDerivedFrom Depreciation_recapture?oldid=586069516.
- Depreciation_recapture isPrimaryTopicOf Depreciation_recapture.