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marin [14]
3 years ago
6

The recapture of depreciation changes the character of the gain on a Section 1231 asset from a(n) _________ gain to ________ inc

ome.
Business
1 answer:
BlackZzzverrR [31]3 years ago
5 0

Answer:capital

ordinary

Explanation: A section 1231 asset is a kind of property that is held for more than one year as defined by section 1231 of the United States Internal Revenue Code. This property is real or depreciable assets. Section 1231 assets include: buildings, land, machinery, livestock, leaseholds etc.

For the recapture of depreciation to exist there must be a sale of a section 1231 sold at a gain. However the gain that is realised must be reported as an ordinary income for tax purposes. Thereafter if the selling price of this asset is higher than the tax basis then the difference is essentially recaptured. This done by changing it from a capital gain to ordinary income.

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<h3>What is the commercial paper? What is the duration of the commercial paper?</h3>

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Usually, the maturity date of the commercial paper lies between the fifteen days or up to one year.

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6 0
2 years ago
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3 years ago
1. The Barberton Municipal Division of Road Maintenance is charged with road repair in the city of Barberton and the surrounding
77julia77 [94]
I don’t really know. But I think it’s b
7 0
3 years ago
Which of the following statements is true?
svet-max [94.6K]

Answer:

A -Deflation is a decrease in overall prices, disinflation is a decrease in the rate of inflation. 

Explanation:

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I hope my answer helps you

7 0
3 years ago
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Answer:

True

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