Back to Study Group
R
1231 py loss
reese-54767 - 02/11/2019, 4:00 am

why are we not subtracting the 6k py loss from the 22k depreciation recaptured as ordinary income portion

Reply
Comment
Report
1
RAIN - 02/15/2019, 11:32 pm

Of the 29,000 gain, 22,000 from depreciation is 1245 ordinary gain. Of the remaining 7,000, the amount of 1231 loss in prior 5 years (6,000) is ordinary gain, for a total o 28,000.

Comment
Report