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Capital Gains Tax Washington DC

Local resource for information on the capital gains tax in Washington. Includes detailed information on local businesses that provide access to information on capital asset value, capital gain tax counseling, and capital gain tax rates, as well as advice and content on short-term capital gains and long-term capital gains.

Kristen M Garry
(202) 508-8186
801 Pennsylvania Avenue Nw, Suite 900
Washington, DC
Specialties
International Law, Tax, Antitrust
State Licensing
DC

Mansoor Bharmal
(202) 639-6534
1455 Pennsylvania Nw, Suite 600
Washington, DC
Specialties
Litigation, Criminal Defense, Tax
State Licensing
DC

Willard M Smith
(202) 383-0221
1275 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Tax, Financial Markets And Services, Employee Benefits, Employment
Education
Cornell Law School,University of Kansas
State Licensing
DC

Jonathan A Sambur
1090 K Street Northwest
Washington, DC
Specialties
Tax
Education
Hofstra University School of Law,New York University School of Law,Brandeis University
State Licensing
DC, Massachusetts, New York

Stephen J Giordano
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Business, Financial Markets And Services, Tax, Mergers & Acquisitions, Venture Capital
Education
George Washington University National Law Center,Boston College
State Licensing
DC

John Warden
(202) 639-6541
1455 Pennsylvania Avenue Nw, Suite #600
Washington, DC
Specialties
Litigation, Tax, Appeals
State Licensing
DC

Sean M Gallagher
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Business, Financial Markets And Services, Tax, Corporate
Education
Washington State University
State Licensing
DC

Carol Guy-Jackson
(202) 626-8321
555 12TH ST NW STE 710
WASHINGTON, DC
Specialties
Business, Tax, Real Estate
Education
Howard University,University of the District of Columbia
State Licensing
DC

William G Driggers
901 NEW YORK AVE NW FL 3
WASHINGTON, DC
Specialties
Tax
Education
Georgetown University Law Center,University of Texas System, Austin,University of Texas System, Aust
State Licensing
DC

Robert D Burke Jr
(617) 526-6470
1455 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Tax
Education
Boston University School of Law,Cornell Law School,Williams College
State Licensing
DC

Capital Gains Tax

Capital Gains Tax

Capital is a unique term when it comes to taxes. If it gains value, you pay a capital gains tax. If it loses it, you can write at least some of the loss off.

Practically everything you own is a capital asset. This is true whether you use it for business purposes or personal use. The internet revenue service is very interested in your capital assets. Why? The IRS likes to tax the full gains while only giving you a small break on any lost value. Specifically, you have to report and pay taxes on gains in value of your capital assets when you sell them. Unfortunately, you only get to claim a loss on capital assets if it is an investment property such as stocks. Doesn't seem fair, but that is how the cookie crumbles these days!

Here are some capital gains tax highlights:

1. Generally, you report capital gains and losses on assets by subtracting the price you purchased it for from the price you sold it for. This calculation is reported to the IRS on Schedule D, which should be attached to your 1040 tax return. Lucky you!

2. Capital gains and losses are classified as long-term or short-term. The classification breaks down on…tad a, how long you've owned the capital asset in question before selling it to someone else. If it has been less than a year, it is a short-term gain or loss. Hold on to it for more than a year and you are looking at a long-term gain or loss when reporting taxes. Each classification requires different tax calculations and you will ...

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