{"id":1714,"date":"2014-03-10T13:49:06","date_gmt":"2014-03-10T18:49:06","guid":{"rendered":"http:\/\/hoorfarlaw.com\/blog\/?p=1714"},"modified":"2014-03-10T13:49:06","modified_gmt":"2014-03-10T18:49:06","slug":"ten-facts-about-capital-gains-and-losses-2","status":"publish","type":"post","link":"https:\/\/hoorfarlaw.com\/blog\/?p=1714","title":{"rendered":"Ten Facts about Capital Gains and Losses"},"content":{"rendered":"
    \n
  1. Capital assets include property such as your home or car. They also include investment property such as stocks and bonds.<\/li>\n
  2. A capital gain or loss is the difference between your basis and the amount you get when you sell an asset. Your basis is usually what you paid for the asset.<\/li>\n
  3. You must include all capital gains in your income.<\/li>\n
  4. You can deduct capital losses on the sale of investment property.\"capital<\/li>\n
  5. Capital gains and losses are either long-term or short-term, depending on how long you held the property. If you held the property for more than one year, your gain or loss is long-term. If you held it one year or less, the gain or loss is short-term.<\/li>\n
  6. If your long-term gains are more than your long-term losses, the difference between the two is a net long-term capital gain.<\/li>\n
  7. The tax rates that apply to net capital gains will usually depend on your income.<\/li>\n
  8. If your capital losses are more than your capital gains, you can deduct the difference as a loss on your tax return. This loss is limited to $3,000 per year, or %1,500 if you are married and file a separate return.<\/li>\n
  9. If your total net capital loss is more than the limit you can deduct, you can carry over the losses you are not able to deduct to next year’s tax return.<\/li>\n
  10. You must file Form 8949, Sales and Other Dispositions of Capital Assets, with your federal tax return to report your gains and losses.<\/li>\n<\/ol>\n

    Courtesy of the Internal Revenue Service Issue Number: IRS Tax Tip 2014-27.
    \nVisit our website at www.Hoorfarlaw.com<\/a>.<\/p>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    Capital assets include property such as your home or car. They also include investment property such as stocks and bonds. A capital gain or loss is the difference between your basis and the amount you get when you sell an … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[296,32,33,229,146,16,348],"class_list":["post-1714","post","type-post","status-publish","format-standard","hentry","category-general","tag-camron-hoorfar","tag-capital-gain","tag-capital-loss","tag-hoorfar-law","tag-internal-revenue-service","tag-irs","tag-law-office-of-camron-hoorfar"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1714"}],"version-history":[{"count":3,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1714\/revisions"}],"predecessor-version":[{"id":1718,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/1714\/revisions\/1718"}],"wp:attachment":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}