Posted 2/1/2015 07:22 (#4353697 - in reply to #4353497) Subject: RE: Selling equipment and taxes on it
I'm not a CPA, but I'm pretty sure NKS explanation is spot on correct. Think about it a second; you get ordinary income deduction in the years being depreciated; don't think the IRS gonna let you use Cap. gains for the recapture. Only on the gain above cost basis. Recapture up to basis ordinary income. Maybe Jake will clarify, but would be darn surprised if it's any different.
Selling equipment and taxes on it
