Hi all,
A basic question to confirm my understanding:
IP purchase price: 100K
Depreciation claimed in 2 yrs: 20K
Selling price after 2 yrs: 150K
Capital gains: 150K-(100K-20K) = 70K (is that right?)
So taxable amount: 50% of 70K (correct?)
What other costs/expenditures are addedd?
Thanks
Sanjay
A basic question to confirm my understanding:
IP purchase price: 100K
Depreciation claimed in 2 yrs: 20K
Selling price after 2 yrs: 150K
Capital gains: 150K-(100K-20K) = 70K (is that right?)
So taxable amount: 50% of 70K (correct?)
What other costs/expenditures are addedd?
Thanks
Sanjay