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.
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