Publication 946 |
2001 Tax Year |
When Do You Recapture MACRS Depreciation?
Words you may need to know (see Glossary):
- Clean-fuel vehicle
- Clean-fuel vehicle refueling property
- Disposition
- Nonresidential real property
- Recapture
- Residential rental property
When you dispose of property that you depreciated using MACRS, any gain on the disposition is generally recaptured (included in income) as ordinary
income up to the amount of the depreciation previously allowed for the property. Depreciation, for this purpose, includes any section 179 deduction
claimed on the property and any deduction claimed for clean-fuel vehicles and clean-fuel vehicle refueling property. There is no recapture
for residential rental and nonresidential real property. For more information on depreciation recapture, see Publication 544.
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