• Sections 1231, 1245, 1250
• Depreciation recapture
• Capital gains and losses
• Non-recognition transactions
Learning Objectives
When you complete this course, you will be able to: • Calculate gain or loss realized and recognized on business property dispositions.
• Identify the tax treatment of net Section 1231 gains and net Section 1231 losses.
• Determine the application of the Medicare contribution tax to property dispositions.
• Recall rules for depreciation subject to recapture when property was acquired in a nontaxable exchange transaction or by gift or bequest.
• Recall the requirements for deferring realized gain on an involuntary conversion.
Major Topics
• Sections 1231, 1245, 1250
• Depreciation recapture
• Capital gains and losses
• Non-recognition transactions