Depreciation and Income Taxes - Gain (loss) on the disposal of an asset
3 important questions on Depreciation and Income Taxes - Gain (loss) on the disposal of an asset
What is a depreciable asset?
A tangible personal or real property that gains or loses value.
What is depreciation recapture?
The sale of depreciable asset results in a gain.
- What are capital assets?
- What is it referred to being sold or exchanged?
Stocks, bonds, gold, silver or other metals as well as real property (home)
Capital gain or loss.
Capital gain or loss.
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