Section 1245 recapture applies to all the followingexcept

[@Brianna17]

Question 1

During the current year, Hugo sells equipment for $150,000. The equipment cost $175,000 when placed in service two years ago, and $55,000 of depreciation deductions were allowed. The results of the sale are
◦ LTCG of $30,000.
◦ Sec. 1231 gain of $30,000.
◦ Sec. 1245 ordinary income $30,000.
◦ Sec. 1250 ordinary income of $30,000.

Question 2

Section 1245 recapture applies to all the following except
◦ depreciable personal property.
◦ assets sold or exchanged at a loss.
◦ total depreciation or amortization allowed or allowable.
◦ amortizable intangible personal property.

[Ashley I]

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[@Brianna17]

Thanks for the timely response, appreciate it

[momolu]

Gracias!