Posted 3/26/2014 05:38 (#3776772 - in reply to #3776692) Subject: RE: Depreciation
NE Arkansas SE Missouri
You file a form 4797 when you sell a depreciable asset used in a business. You pay ordinary income tax on the gain between the sale price and the unrecovered basis. Capital gains would only come into play on the amount, if any, that was above the original purchase price.
Depreciation
