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.
Beginning Fall 2016 annual (fall and spring semesters combined) undergraduate tuition and fees will be $8,472 for in-state students and $19,002 for out of state students. For information regarding Tuition and Fee charges at Virginia's other state supported schools please visit the State Council of Higher Education for Virginia (SCHEV) website. For a breakdown of charges please click on the Undergrad Tuition; Fee; Room and Board rates Link.