IRS Section 1245 determines how certain types of property are taxed upon sale. Specifically, it deals with recapturing depreciation on personal property and specific kinds of real estate. When ...

Depreciation recapture is the process by which the IRS reclaims tax benefits previously obtained through depreciation when an investor sells a depreciable asset for more than its depreciated value.

Dear Tax Talk, If I sell my tractor that was depreciated out years ago, do I have to pay taxes on the sale of it? What are the depreciation rules? -- Arlene Dear Arlene, Well, yes, you do. That's what ...

I do real estate tax consulting, and a common question is when “depreciation recapture” is recognized when real estate is sold. There are two types of recapture rules, one that applies to personal ...