Loss
When a taxpayer takes a loss on the sale of an asset, there is no depreciation recapture. However, the taxpayer may qualify for ordinary loss treatment under IRC ยง 1231.
Read more about this topic: Depreciation Recapture
Famous quotes containing the word loss:
“...to many a mother’s heart has come the disappointment of a loss of power, a limitation of influence when early manhood takes the boy from the home, or when even before that time, in school, or where he touches the great world and begins to be bewildered with its controversies, trade and economics and politics make their imprint even while his lips are dewy with his mother’s kiss.”
—J. Ellen Foster (1840–1910)
“Somebody who should have been born
is gone.
Yes, woman, such logic will lead
to loss without death. Or say what you meant,
you coward . . . this baby that I bleed.”
—Anne Sexton (1928–1974)
“A gain is no joy, nor a loss any grief.”
—Chinese proverb.