View Single Post
  #4  
Old November 28th 05, 11:14 PM posted to rec.aviation.owning
external usenet poster
 
Posts: n/a
Default AOPA Plane Giveaway and Taxes

"Peter R." wrote:
Any and all depreciation, not just accelerated, is recaptured

at
ordinary rates, not capital gains rates.


And what is the ordinary rate? A fixed rate or one that is

variable based
on income?


Same as on other income like wages, and depending upon one's
taxable income. The marginal tax rates vary between 10 and 35%.

Fred F.