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- Recapture tax is a tax that you may have to pay when you sell or dispose of an asset that you have claimed depreciation or capital cost allowance (CCA) on12. To calculate recapture tax, you need to123:
- Find the proceeds of disposition, which is the amount you received or will receive for the asset.
- Find the remaining undepreciated capital cost (UCC), which is the adjusted cost basis of the asset minus the depreciation or CCA claimed.
- Subtract the remaining UCC from the proceeds of disposition. This is the CCA recapture amount, which is the lower of the realized gain and the depreciation or CCA claimed.
- Include the CCA recapture amount as income on your tax return in the year the asset was sold or disposed of.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.The CCA recapture amount is calculated as follows: CCA Recapture = Proceeds of Disposition - Remaining UCC If the proceeds of disposition are less than or equal to the remaining UCC, there is no CCA recapture. Report the CCA recapture: Include the CCA recapture amount as income on your tax return in the year the asset was sold or disposed of.www.taxheroes.ca/resources/understanding-cca-re…Its calculation involves identifying the adjusted cost basis of the asset sold, depreciation deductions or accumulated depreciation, and realized gain. If accumulated depreciation and realized gain are compared, the smaller of the two is taken as the recapture amount.www.wallstreetmojo.com/depreciation-recapture/Compare your realized gain with your depreciation expense. The lower of these two figures is the amount the IRS considers to be depreciation recapture. For example, if you have a realized gain of $2,000 and an accumulated depreciation expense of $4,000, the lesser amount, or $2,000, would be the amount of your depreciation recapture.smallbusiness.chron.com/calculate-depreciation-re… - People also ask
The Ultimate Depreciation Recapture Calculator - Inside the 1031 …
Since depreciation recapture is taxed as ordinary income as opposed to capital gains, your depreciation recapture tax rate is going to be your income tax rate, with a cap at 25%. This 25% cap was instituted in 2013. Previously, the cap was 15%. Your depreciation recapture tax rate will break down like … See more
Plug in the basic information requested for each field to learn how much you’ll owe without deferring your gains. See more
The most effective way to avoid depreciation recapture is to use a 1031 exchange. A 1031 exchange allows you to avoid depreciation recapture for the same reason it allows you … See more
It’s hard to explain depreciation recapture without touching on depreciation itself, so let’s start there. As you probably know, depreciation is a tax deduction that reflects the costs of owning and improving a property. The IRS considers the “useful life” of a rental … See more
Let’s look at an example to illustrate depreciation recapture in the real world. An investor buys a duplex for $500,000 building value. (It’s “building value” because land can’t be depreciated.) The investor takes $30,000 depreciation each year for ten years. … See more
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