Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. why do we have depreciation recapture? what doe

1. Why do we have depreciation recapture? What does depreciationrecapture accomplish?2. What is the...1....

60.1K

Verified Solution

Question

Accounting

1. Why do we have depreciation recapture? What does depreciationrecapture accomplish?
2. What is the difference between 1245 recapture and 1250recapture? Is there a different tax rate?
3. How would you report 1231 gain on a tax return? How would youreport ordinary recapture?

Answer & Explanation Solved by verified expert
3.8 Ratings (716 Votes)
Depreciation recapture is the procedure that is being used in order to collect the tax on income in regard to profit or gain that is being made by the assessee in relation to sale of the asset on which depreciation had been    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

In: Accounting1. Why do we have depreciation recapture? What does depreciationrecapture accomplish?2. What is the...1. Why do we have depreciation recapture? What does depreciationrecapture accomplish?2. What is the difference between 1245 recapture and 1250recapture? Is there a different tax rate?3. How would you report 1231 gain on a tax return? How would youreport ordinary recapture?

Other questions asked by students

Q

The marketing manager of a large supermarket chain would like to use shelf space to predict...

Statistics
Q

Define temporal and special summation

Medical Sciences
Q

Find an equation of the largest sphere with center (4,3,5) and is contained in the first...

Advance Math
Q

Identify the phases of mitosis and detail the features of each phase to include both...

Biology
Q

Sin x 10 t x c 2 The sun delivers 104 W m of electromagnetic...

Physics
Q

Determine whether the series converges or diverges 1 n 8 n 8 n 1 converges...

Calculus
Q

3. ACMEs December 31, 2017 and 2018 balance sheet lists shareholders equity of $700,000 and...

Accounting
Q

Blossom Ice Fishing Limited purchased ice fishing huts on December 1,2023, for $123,000 cash. At...

Accounting
Q

l osting is d. the unit cost information is not received on a timely basis....

Accounting
Q

BE10-1. (LO 1) Previn Brothers Inc. purchased land at a price of $27,000. Closing costs...

Accounting
Q

Sure-Lock Ltd. is purchasing new equipment at a cost of $325,000. The equipment will yield...

Finance
Q

2. Consider Table 1. Table 1 Firm 1 Firm 2 Earnings before interest and taxation...

Finance