Recaptured depreciation rate We sold a residential rental property in 2014.
I need to understand the rates for income tax on recaptured depreciation and capital gains.
I have read that the standard 25% and 15% respective tax rates may be reduced if we are in the low (10% to 15%) tax brackets, which we are.
Is this correct?
Do the recaptured depreciation and capital gains amounts combine wit other amounts of income to determine our bracket?
Thanks. |