Sometimes this is an easy calculation – if you paid $10 for stock and sold it for $100, your capital gain is $90. But in other situations, determining your basis can be more complicated.

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 ...

The Section 121 Exclusion lets taxpayers exclude up to $250,000 of the gain from the sale. A couple filing jointly can ...

Summary: Under the new tax regime for Financial Year 2024-25, individuals with a total income up to ₹7,00,000 are eligible ...

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 ...

If tax at the new 12.5% rate is higher than 20% rate with indexation on properties bought before 23 July 2024, the excess ...

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 ...