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 total list price for in-state Virginia residents to go to Virginia Tech is $21,417 for the 2014/2015 academic year. Out-of-state students who don't possess Virginia residence can expect a one year cost of $36,844.