Capital Gains and Losses

This handout defines what assets are considered capital assets. It also discusses holding periods of assets, basis, and capital gain tax rates.

HIGHLIGHTS: 

  1. Capital and noncapital assets.

  2. Holding periods.

  3. Mutual funds, including cost basis and average basis.

  4. Capital gain tax rates.

  5. Sale of collectibles and small business stock.

  6. Capital loss limitation and carryover.


CLIENTS WHO MAY BENEFIT:

  1. Taxpayers who own assets are considering selling those assets.

  2. Taxpayers who have inherited property.

Planning & Life Issues, Individual Income TaxClare FazackerleyTax, Capital Gains, Losses, Capital Assets, Mutual Funds, Property, Inheriting