Are Form 1120 Schedule M 3 Deferred 2019-2024

Hello and welcome to this session. This is Professor Farhad. In this session, we're still in chapter 17. We'll discuss incorporations. We're going to be looking at depreciation recapture. So, there's some good news for this session because if you understand the appreciation recapture for section 1245, it's the same for individuals as well as corporations. Also, 1250 applies to corporations as well. So, in general, the recapture rules under section 1245. Now, if you don't know what this is, if you're listening to this recording and you're saying, "What is he talking about? What is section 1245?" Go back to my YouTube channel under advanced taxation and look at section 1245 recapture as well as 1250. They both apply to individuals and corporations. So, if you learn 1245 for individuals, you know it for corporations. If you learn 1250 for individuals, you know it for corporations. So, what is the special? So, when are we having this discussion? If they are the same, why is there a discussion? Well, there's a difference for corporations. They might have a little bit more depreciation recaptured when it comes to Section 1250 asset. And without Section 1250 asset, those are real property. If you don't know what Section 1250 is, by all means, go back and review that session. So, Section 1250 and the disposition of Section 1250 are subject to the new recapture. It's called Section 1291. So, we're gonna be learning about the new thing, Section 1291. So, we're going to recapture some additional, again, as ordinary income. So, how do we recapture it? Well, the ordinary income that we're going to be recapturing under Section 1291 is 20% times one of two numbers. And that two numbers are the lesser of the straight-line depreciation or the realized gain, assuming...