- recapture
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re·cap·ture 1 /ˌrē-'kap-chər/ vt -tured, -tur·ing1: to capture again2: to recover or take (as an excess or gain) by law or agreement; esp: to recover (a tax benefit) by higher or additional taxation of income or property that ceases to qualify for a credit or deduction or by taxing gain realized from the sale or exchange of such propertythe government recaptured the depreciation by taxing the gain resulting from the difference between the sale price and the basis after depreciationrecapture 2 n1: the act or process of recapturing2: an amount recaptured or subject to recapture
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- recapture
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v.(1) To collect tax that was previously claimed by a taxpayer as a deduction or credit.(2) To take back something that has been captured by an enemy.n.recapture
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
- recapture
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In tax law, the requirement that a taxpayer - upon the sale of property - pay the amount of tax savings from past years due to accelerated depreciation or deferred capital gains.Category: Personal Finance & Retirement → Taxes
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- recapture
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n.in income tax, the requirement that upon sale of property the taxpayer pay the amount of tax savings from past years due to accelerated depreciation or deferred capital gains.See also: income tax
Law dictionary. EdwART. 2013.
