This is a depreciation recapture. However, if taxpayer instead sells the property for $1200, because his recomputed basis is $600, $400 of the gain is taxed as ordinary income and $200 is taxed at the more favorable capital gains tax rate.
The tuition charge is $10,088 while room and board is $8,270, books and supplies are $1,130 and other fees come in at $1,929. Residents of Virginia pay an annual total price of $21,417 to attend Virginia Tech on a full time basis.
VA will pay the greater of $17,500 or the established charges payable based on VAâs Post-9/11 GI Bill 2010-2011 Tuition and Fee In-State Maximums published October 27, 2010. We've complied a list of Q & As about the grandfather clause below for your benefit. Please let us know if you find them helpful and if you have additional questions. --