Thanks so much for your reply, Carl! I'm a bit confused though: If the depreciation recapture is included in the AGI, then isn't the itemized deduction going to be larger based on some percentage of the large charitable contribution (which was a book collection) that isn't currently being fully used due to it being limited to something like 50% of my AGI? For example, generally speaking, if my depreciation recapture adds $50,000 to my AGI and my charitable contribution dedication is capped at something like 50% of my AGI, wouldn't I only be paying taxes on $25,000 of the depreciation recapture (so it wouldn't necessarily be a 1-to-1 deduction, but I would presumably get a 50% discount on the depreciation recapture taxes)?
