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  2. Depreciation recapture - Wikipedia

    en.wikipedia.org/wiki/Depreciation_recapture

    Depreciation recapture. Depreciation recapture is the USA Internal Revenue Service ( IRS) procedure for collecting income tax on a gain realized by a taxpayer when the taxpayer disposes of an asset that had previously provided an offset to ordinary income for the taxpayer through depreciation. In other words, because the IRS allows a taxpayer ...

  3. Section 179 depreciation deduction - Wikipedia

    en.wikipedia.org/wiki/Section_179_depreciation...

    First, there is a dollar limitation. Under section 179 (b) (1), the maximum deduction a taxpayer may take in a year is $1,040,000 for tax year 2020. Second, if a taxpayer places more than $2,000,000 worth of section 179 property into service during a single taxable year, the § 179 deduction is reduced, dollar for dollar, by the amount ...

  4. Capital gains tax on real estate and selling your home - AOL

    www.aol.com/finance/capital-gains-tax-real...

    You would have to pay a 25 percent depreciation recapture tax on the portion of your profit from previously claimed depreciation and 0, 15 or 20 percent in long-term capital gains taxes, depending ...

  5. Internal Revenue Code section 1031 - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Code...

    Under Section 1031 of the United States Internal Revenue Code ( 26 U.S.C. § 1031 ), a taxpayer may defer recognition of capital gains and related federal income tax liability on the exchange of certain types of property, a process known as a 1031 exchange. In 1979, this treatment was expanded by the courts to include non-simultaneous sale and ...

  6. When You Can and Can’t Write Off Home Office Expenses - AOL

    www.aol.com/finance/t-write-off-home-office...

    The way the deduction is calculated is by taking $5 per square foot of your home office up to 300 square feet, for a $1,500 maximum deduction. To qualify for this deduction, you have to be self ...

  7. How Do I Calculate Depreciation For Taxes? - AOL

    www.aol.com/calculate-depreciation-taxes...

    Depreciation is a concept and a method that recognizes that some business assets become less valuable over time and provides a way to calculate and record the effects of this. Depreciation impacts ...

  8. Capital gains tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Capital_gains_tax_in_the...

    In the United States, individuals and corporations pay a tax on the net total of all their capital gains. The tax rate depends on both the investor's tax bracket and the amount of time the investment was held. Short-term capital gains are taxed at the investor's ordinary income tax rate and are defined as investments held for a year or less ...

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    You can find instant answers on our AOL Mail help page. Should you need additional assistance we have experts available around the clock at 800-730-2563.