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November 15, 2007 12:00 am
Personal Mileage Rates Down
If you use your car for deductible moving or medical purposes, you can add the cost of driving based on a standard mileage rate. For 2008, the rate is 19
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Tax Glossary
Depreciation recapture
An amount of gain on the sale of certain depreciable property that is treated as ordinary income in the case of personal property. Recapture is computed on Form 4797.
