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Category: Capital Gains/Losses
11 Articles
Orange arrow How Do I Know if I Have a Short Term or Long Term Transaction?

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  Separate your capital gains and losses according to how long you held or owned the property. The holding period for short-term capital gains and losses is 1 year or less. The holding period for long-term capital gains and losses is more than 1 year. To figure the holding period, begin counting on t...
Orange arrow How do I claim Capital Loss Carry-Over?

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  For any year (including the final year) in which capital losses exceed capital gains, the estate or trust may have a capital loss carry-over. A capital loss carry-over may be carried forward indefinitely. Capital losses keep their character as either short-term or long-term when carried over to the...
Orange arrow Capital Gains and Losses

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  Almost everything you own and use for personal or investment purposes is a capital asset. Examples include a home, personal-use items like household furnishings, and stocks or bonds held as investments. When you sell a capital asset, the difference between the adjusted basis in the asset and the am...
Orange arrow What is a Wash Cash Sale?

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  A wash sale occurs when you sell or otherwise dispose of stock or securities (including a contract or option to acquire or sell stock or securities) at a loss and, within 30 days before or after the sale or disposition, you directly or indirectly: Buy substantially identical stock or securitie...
Orange arrow What is a Capital Asset?

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  Most property you own and use for personal purposes, pleasure, or investment is a capital asset. For example, your house, furniture, car, stocks, and bonds are capital assets. A "capital asset" is any property held by you except the following. Stock in trade or other property included in inve...
Orange arrow Form 2439 - Notice to Shareholder of Undistributed Long-Term Capital Gains

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  Instructions for the ShareholderSection references are to the Internal Revenue Code. Reporting Information Box 1a. This amount is your total undistributed long-term capital gain from your regulated investment company (RIC) or real estate investment trust (REIT). Report the total amount as a long-t...
Orange arrow What are Capital Gains ? 

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  Almost everything you own and use for personal purposes or investment is a capital asset. Examples are your home, household furnishings, and stocks or bonds held in your personal account. When you sell a capital asset, the difference between the amount you sell it for and your basis, which is usua...
Orange arrow How do I claim Capital Gain Carry-Over?

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  This cannot be done. Investors cannot carry over gains to offset losses. Gains are report in the year received....
Orange arrow Antique/Collectible

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  A collectibles gain or (loss) is any long-term gain or deductible long-term loss from the sale or exchange of a collectible that is a capital asset. Collectibles include a work of art, rug, antique, metal (such as gold, silver, and platinum bullion), gem, stamp, coin, or alcoholic beverage held mo...
Orange arrow Wash Sales

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  A wash sale occurs when you sell or otherwise dispose of stock or securities (including a contract or option to acquire or sell stock or securities) at a loss and within 30 days before or after the sale or disposition, you directly or indirectly: Buy substantially identical stock or securities, ...
Orange arrow Collectible (28% Gain)

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  A 28% rate gain or loss is: Any collectibles gain or loss, or The part of your gain on qualified small business stock that is equal to the section 1202 exclusion. If this applies, check the 28% Gain box during your interview. To determine amount of 28% Gain, fill out the worksheet on Schedu...

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