as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
how do i determine if sale proceeds from an asset are taxable?
user
if it's fully expensed, it has zero basis. any sale is taxable, 100%. to the ordinary income / cap gain issue raised in comment - it's a cap gain, but i believe, as with real estate, special rates apply. this is where i am out of my area of expertise, and as they say - "consult a professional."
assistant