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 maximum academic year cap for Post-9/11 GI Bill tuition payment at private and foreign schools will increase to $21,084.89 on August 1, 2015. The current maximum academic year cap for private and foreign schools is $20,235.02. An academic year is defined by the VA as August 1 â July 31.