Without anything else as requested in my prior comment:
- I believe your basis is $106,557 (20,131+8,190+2,578+75,658)
- Then your selling price is the $163,408
- Your ordinary income component, the Section 1245, is the $46,030 (this is depreciation recapture)
- Then the Section 1250 is the $10,822
- The above makes sense
- Overall gain is $56,851 (163,408-106,557)
- Ordinary Section 1245 is the $46,030
- Section 1250 is the difference of $8,821 ($1 rounding)
- The Section 1245 recapture is essentially a reclassification of capital gain to ordinary income
- The Section 1250 is a limit on the capital gain rate; 25% instead of 20%
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
