Capital gains are profits. Specifically ... Now, if the $10,000 gain was long-term, the tax calculation looks a little different. Your total taxable income is still $80,400, but your ordinary ...

ITAT Mumbai held that assessee is permitted to set off unabsorbed depreciation pertaining to AY 1997-98 to 2001-02 against short term capital gains. Accordingly, AO is directed to delete the addition ...

What Is the Lifetime Capital Gains Exemption (LCGE)? The Lifetime Capital Gains Exemption (LCGE) is one such mechanism that provides significant benefits to those who understand and apply it ...

Income taxes, sales tax, and capital gains tax are all forms of tax liabilities ... You would use the IRS tax computation worksheet if you make $100,000 or more. Anyone making less uses the ...

The computation of the carryforward is as follows: Put differently, the excess of net short-term capital losses over net long-term capital gains for the tax year is a short-term capital loss in ...

Contrary to conventional wisdom, increasing capital gains tax rates could modestly improve economic growth by reducing ...

Take Advantage of Exemptions: Some assets, such as your primary residence, may qualify for capital gains tax exemptions. For example, in the U.S., individuals may exclude up to $250,000 ($500,000 for ...

Capital gains tax is paid on income that derives from the sale or exchange of an asset, such as a stock or property that’s categorized as a capital asset. Below is a primer on the difference ...