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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
- Section 1245 Depreciation Recapture
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Depreciation recapture is the gain realized by the sale of depreciable capital property that must be reported as ordinary income for tax … See more
Companies account for wear and tear on property, plant, and equipment through depreciation. Depreciation divides the cost associated with the … See more
Depreciation recapture offers the IRS a way to collect taxes on the profitable sale of an asset that a taxpayer used to offset taxable income. While owning the asset, the taxpayer is … See more
Depreciation recapture on real estate property is not taxed at the ordinary income rate as long as straight-line depreciation was … See more
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