Capital gains are not applicable when an asset is inherited because there is no sale, only a transfer. However, if this asset is sold by the person who inherits it, capital gains tax will be applicable but purchase date would be of original buyer not date of Transfer. The Income Tax Act...
Reports on the amendment to the Decree 493 of 2001 of the Income Tax Law in Argentina as of April 2004. Provisions introduced into the Decree 493; Purpose of the provisions for resident individuals; Rulings issued by the attorney general of the Treasury in July 2003 on the taxation of ...
Capital gains taxes may be due on any gain received from the sale of the individual's partnership interest or from the sale of the partnership as a whole. Using the example above, a two-person partnership might split their share of the proceeds from the sale of the partnership 50/50. Eac...
Share on Facebook capital gain (redirected fromCapital gains) Thesaurus Financial Related to Capital gains:capital gains tax capital gain n. The amount by which proceeds from the sale of a capital asset exceed the original cost. American Heritage® Dictionary of the English Language, Fifth Editio...
Capital gains tax A levy imposed by the IRS on profits made from the sale of an asset, such as stocks or real estate — that profit is considered taxable income. Long-term capital gains A tax on assets held for more than one year. ...
Will you pay capital gains on the sale of your second home? Find out how the IRS treats vacation and investment properties differently.
Capital gains tax on the sale of a real property is not an easy topic for many people to understand. This type of tax occurs when real property is sold and a profit is realized. If you sell the home in which you reside, there is a chance you can take advantage of the tax break pr...
Capital gains tax, in the United States, a tax levied on profits realized from the sale or exchange of capital assets. For purposes of the tax, capital assets include most forms of investment property and some forms of personal property, such as jewelry,
Gold, silver, and other metals Coin and stamp collections Timber grown on your home property or investment property However, not every capital asset you own will qualify for capital gains treatment. Examples of noncapital assets include:
Capital gains exposure is an assessment of the overall tax impact of gains and losses in a stock fund or other similar investment fund.