TaxGuyBill
Level 15
10-11-2022
05:07 PM
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I'm just going on a rant now ... whoever revised Publication 523 a number of years back is a complete idiot.
It is NOT "recapture", it is "Unrecaptured Section 1250 Gain".
It is NOT "ordinary income", it is "capital gain" that is taxed at ordinary rates, up to 25%.
/Rant off/