How does recapture work?
Recapture is triggered by a sale, exchange or involuntary conversion. It applies to depreciation when the sale proceeds exceed the adjusted basis. When the proceeds exceed the adjusted basis of an asset, the difference will first be allocated to previous depreciation deducted (the recapture portion) and then to capital gain. This video reviews the basic rules of depreciation recapture and accounting method changes.
Dawn Polin, CPA
- Senior manager, credits & accounting methods in Cherry Bekaert’s specialty tax group
- Focuses primarily on cost segregation studies, energy studies, and recently implemented tangible property regulations, as well as the federal and multistate taxation of closely-held and private equity/venture capital-owned companies
- More than 18 years of experience
- B.B.A. degree, University of Georgia; M.Acc. degree, University of Florida
- Can be contacted at [email protected] or 919-782-1040
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