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:
“If but some vengeful god would call to me
From up the sky, and laugh: “Thou suffering thing,
Know that thy sorrow is my ecstasy,
That thy love’s loss is my hate’s profiting!””
—Thomas Hardy (1840–1928)
“The loss of enemies does not compensate for the loss of friends.”
—Abraham Lincoln (1809–1865)
“Upset at the young wife’s
first loss of virtue
in a riverside thicket,
a flock of birds
flies up,
mourning the loss
with their wings.”
—Hla Stavhana (c. 50 A.D.)