Posted 1/31/2015 22:05 (#4353401 - in reply to #4353373) Subject: RE: Selling equipment and taxes on it
Schlegel Farms, Hagerstown Indiana
tmrand - 1/31/2015 21:48
I am far from an expert on this but I'm pretty sure that you pay capital gains tax on any amount more than your cost minus previous depreciation. It is not taxed as ordinary income unless you are not filling out a full 1040 form.
Selling equipment and taxes on it
