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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.

Kyle R. Jefcoat
(202) 637-2152
555 11TH ST NW STE 1000
WASHINGTON, DC
Specialties
Government Contracts, Tax, White Collar Crime, Government
Education
Duke University,Yale University
State Licensing
DC

Jeffrey A Friedman
(202) 383-0718
1275 Pennsylvania Avenue Nw
Washington, DC
Specialties
Tax, Business, Litigation
State Licensing
DC

Jason Eric Paral
(202) 639-6508
1455 Pennsylvania Avenue Nw, Suite 600
Washington, DC
Specialties
Project Finance, Tax, Litigation
State Licensing
DC

Vanessa Scott
(202) 383-0215
1275 Pennsylvania Avenue Nw
Washington, DC
Specialties
Employee Benefits, Tax, Business
State Licensing
DC, Maryland

Susan T Edlavitch
(202) 344-8518
575 7th St Nw
Washington, DC
Specialties
Tax, Mergers & Acquisitions, Appeals
State Licensing
DC, Maryland

Stephen J Zempolich
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Bankruptcy, Debt Collection, Business, Financial Markets And Services, Tax
Education
Georgetown University Law Center,Duke University
State Licensing
DC

Howard M Weinman
(202) 624-2725
1001 Pennsylvania Ave Nw
Washington, DC
Specialties
Tax, Government, Partnership
State Licensing
DC

Cheryl M. Coe
(202) 637-2157
555 11TH ST NW STE 1000
WASHINGTON, DC
Specialties
Tax, International Law, Project Finance, Business
Education
Emory University,Georgetown University
State Licensing
DC

Kim Marie K. Boylan
(202) 637-2235
555 11TH ST NW STE 1000
WASHINGTON, DC
Specialties
Tax
Education
Georgetown University,Georgetown University,Syracuse University
State Licensing
DC

Justin Stalls
(202) 637-3364
555 11th Street Nw
Washington, DC
Specialties
Tax, Partnership, Securities Offerings
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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