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.
The average annual in-state college tuition in Virginia was $14,942 for the 2015-2016 academic year. This is $1,356 higher than the U.S. average and ranks Virginia in the middle of the pack as the 16th most expensive and 37th most affordable state or district to attend college. This is a change of $331 from the 2014-2015 average of $14,611 and represents a 2.27% annual increase.