Capital Gains and Losses

Capital Gains and Losses

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This intermediate course includes how to calculate a short-term and/or long-term gain or loss. The student will understand holding period and what is a capital asset. Almost everything a taxpayer owns and uses for personal or investment purposes is a capital asset. When a capital asset is sold, the difference between the basis in the asset and the amount the item is sold for is either a capital gain or capital loss.

At the end of this course, the student will be able to do the following:

  • Explain the holding periods for different types of property.
  • Understand the difference between short-term and long-term capital gains.
  • Identify capital assets.
  • Determine the basis before selling an asset.
  • Know when the primary residence is excluded from capital gain.

Field of Study: Federal Tax Law 2 Hour
Course Level: Intermediate
Prerequisite: General tax preparation knowledge is required 
Delivery Method: Self-Study

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