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reporting income from sale of depreciated farm equipment
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jd8770
Posted 12/18/2024 18:41 (#11015752 - in reply to #11015741)
Subject: RE: reporting income from sale of depreciated farm equipment


sc kansas
sale of fully depreciated assets are reported on form 4797 and are not subjected to ss tax, if sales price exceeds the original depreciable basis than excess would be max taxed at capital gains rates if it's less than regular taxed rate
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