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Tying Depreciation and Disposition of Assets Together

Summary

Depreciation of an asset and the sale of the same asset go hand-in-hand. The depreciation taken while the asset was in service affects the gain, if any, that is recognized upon sale. Take this webinar to understand the general tax depreciation rules and the reporting of the eventual sale of an asset that was depreciated.

Objectives

Upon completion of this course, you will be able to:

  • Determine the proper depreciation method for property.
  • Identify the class life of an asset.
  • Identify the appropriate convention to be used.
  • Discuss the different types of dispositions.
  • Distinguish between a §1231 gain or loss and a §1245 or §1250 gain.
  • Identify when a drop in business usage of an asset creates depreciation recapture.

Course Details

Includes webinar recording, PowerPoint presentation and Q&A webinar transcript. CPE is issued after exam is successfully completed.




   

Presented by: Jaye Tritz, EA, CFP

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