Posted by David Krulac on October 06, 2005 at 23:00:42:
LTCG is 15% assuming no other costs of purchase or costs of sale, the adjusted basis would be $200,000 minus the $20,000 depreciation. The gain would be $120,000 and the Fed tax would be $18,000.
Capital Gains for a Corporation - Posted by BillOhio
Posted by BillOhio on October 05, 2005 at 10:41:57:
How do you figure Capital Gains Taxes on a C Corp.
For example if you bought a $200,000 building 3 years ago and you sell it for $300,000 and you have depreciated $20,000, how much would taxes be?