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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.

Reginald R Goeke
1090 K Street Northwest
Washington, DC
Specialties
Commercial, Investment Fraud, Intellectual Property, Tax, Class Action
Education
Harvard University Law School,University of Michigan, Ann Arbor
State Licensing
DC

George E Constantine III
(202) 344-4790
575 7th St Nw
Washington, DC
Specialties
Antitrust, Tax, Advertising
State Licensing
DC

Kenneth G Hance Jr.
(202) 585-8731
401 9th Street Nw Ste 900
Washington, DC
Specialties
Tax, Real Estate, Insurance
State Licensing
DC

Robert H Kapp
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Tax, Business, Financial Markets And Services
Education
University of Michigan Law School,University of Pennsylvania
State Licensing
DC

Mary E Cassidy
(202) 942-5565
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Tax, Estate Planning, Personal Injury, Employee Benefits
Education
George Washington University National Law Center,State University of New York, Binghamton,State Univ
State Licensing
DC

Anna Durand Kraus
(202) 662-5320
1201 Pennsylvania Avenue Nw
Washington, DC
Specialties
Health Care, Contracts, Tax
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

Heather Rose Stone
(202) 347-2230
Davis & Harman Llp, 1455 Pennsylvania Ave Nw
Washington, DC
Specialties
Employee Benefits, Tax, Health Care
State Licensing
Pennsylvania

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

Daniel L Hogans
(202) 739-5510
1111pennsylvania Ave Nw
Washington, DC
Specialties
Employee Benefits, Tax, International Law
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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