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Income Tax Planning
Chapter 11: The Taxation of Capital Assets/TAXATION OF CAPITAL GAINS AND LOSSES
Warren Academy Course SyllabusSyllabus Slides
Chapter Study Session

Chapter 11: The Taxation of Capital Assets

TAXATION OF CAPITAL GAINS AND LOSSES

01.Core Concepts

• Capital gains and losses must be separated from other types of gains and losses for two reasons: • Long-term capital gains may be taxed at a lower rate than ordinary gains • Net capital losses are only deductible up to $3,000 per year against ordinary income