How do I determine if sale proceeds from an asset are taxable?
Profit = Sale price - Basis Basis = Purchase price - any depreciation taken, including expensing it.
Below is an instruction that describes a task. Write a response that appropriately completes the request.

### Instruction:
How do I determine if sale proceeds from an asset are taxable?

### Response:
Profit = Sale price - Basis Basis = Purchase price - any depreciation taken, including expensing it.