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.
This program is a supplement to the Post 9/11 GI Bill that helps veterans to bridge the gap between the Post 9/11 tuition benefit and the actual cost of tuition and fees. The School of Medicine provides up to $12,000 additional tuition dollars per year ($6,000 from VUSM and $6,000 matching funds from VA).