Question
How is a buyer's later gain affected by a previously disallowed 267 loss?
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Answer
The buyer can offset later gain, but not create a loss.
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Question
How do you treat recapture before applying 1231 netting?
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Answer
Compute recapture first; it is ordinary regardless of netting.
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Question
How does 1250 recapture differ from 1245 recapture?
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Answer
Only excess depreciation over straight-line is recaptured.
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Question
What is unrecaptured 1250 gain?
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Answer
Straight-line depreciation gain taxed at a maximum 25% rate.
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