If an old asset is sold for its depreciated,or book,value,then no taxes result and there is no tax effect from the sale.

Question

Quizplus · Accepted Answer

When an old asset is sold for its depreciated or book value, it means the asset is being sold for the amount it is recorded on the company's books. Since the company has already claimed tax deductions on the asset during its useful life, selling it for its book value does not result in any taxable gain or loss. Therefore, there is no tax effect from the sale.

If an Old Asset Is Sold for Its Depreciated,or Book,value,then