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Capital Gains Taxation: Classification, Calculation and Tax Treatment of Assets

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Finance - Personal Finance

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michael1tekrzp Created by 10 mon ago

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Cards in this deck(30)
What is a recognized gain or loss from the sale or exchange of a capital asset?
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What results from the sale or exchange of a Section 1231 asset?
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How is the holding period classified for capital gains if the asset is held for more than one year?
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Which method is used by default when selling stock from multiple purchases unless a specific ID is elected?
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Which method typically results in a larger loss when selling stock, FIFO or specific ID?
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How is the capital gain or loss calculated from the sale of a capital asset?
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When selling an inherited asset, how is the capital gain or loss always classified?
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In a gift transaction, how is the gain or loss mode determined?
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How are net capital gains or losses determined for a taxpayer?
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What is the maximum tax rate on long-term capital gains for most taxpayers?
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How is the capital gains tax rate determined for married filing jointly (MFJ) taxpayers?
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What is the maximum tax rate on long-term gains from the sale of certain collectibles?
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How are capital losses offset against capital gains of different rate classes?
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How are qualified dividends received taxed?
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What is the treatment of net capital losses for individuals?
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How are net capital losses treated for corporations?
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How are Section 1231 gains and losses treated?
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What are common Section 1231 transactions?
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What is the impact of depreciation recapture on Section 1231 transactions?
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What is the 5-year lookback rule for Section 1231 gains?
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How is the amount of Section 1245 gain determined?
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What is the additional recapture on depreciation for buildings sold by corporations?
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How is gain treated when depreciable property is sold between related parties?
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Who are considered related parties in tax transactions?
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What rules apply to non-dealer installment sales?
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What is the gain recognized on sale referred to as?
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How is the gross profit ratio calculated?
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How is the contract price determined in an installment sale?
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How is the taxable amount from an installment sale calculated?
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How is interest received on an installment sale computed?
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