Amount of the withdrawal gain of a property when returning it to private assets
February 19, 2017 | 25,00 EUR | answered by StB Patrick Färber
The practice rooms, which are located in the residential building, occupy 27% of the living space. Half of them are currently in business assets. The practice is being abandoned, and the share of 13.5% is to be transferred back to private assets.
In what amount must the abandonment profit be included in the income statement of the closing balance sheet if the value of the property has not decreased? How is this hidden reserve = abandonment profit calculated? Should the acquisition value from the asset register be used for this purpose?
Dear questioner,
The closing gain refers to all assets in the practice, but it seems that the hidden reserve is mainly in the practice rooms.
The closing gain in general is the difference between the market value of the assets at the time of closure and the book value(s) of the assets (i.e. the sole proprietorship).
Specifically for the property, this means:
You need to determine (or have determined) the market value of the property and the land, and apply 13.5% of that value. From this value, subtract the book value according to the asset register, taking into account not the acquisition cost (historical acquisition cost), but the book value (i.e. minus depreciation).
Additionally, for completeness, reference is made to § 16 para. 4 EStG, according to which the closing gain can be mitigated if you are over 55 years old.
I hope that I could roughly orient you based on your input.
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