calculating capital losses

Question 1

calculating capital losses is difference between

Answer 1

1222 abd 1h

Question 2

STCL offset in this order

Answer 2

1. stcg
2. 28% gain rate
3. 25% gain rate
4. 20% gain rate
5. up to 2k Ordinary Income

Question 3

LTCL offset in this order:

Answer 3

1. LTCG in same rate category
2. 28% gain rate 3. 25% gain rate
3. 20% gain rate
4. up to 3k ordinary income

Question 4

example of property loss

Answer 4

1. Land held for investment is an investment loss, and is a capital asset, so capital loss.
2. It is deductible via 165 c
3. Deductible ATL VIA 62
   - - does impact gi, but does impact AGI

Question 5

FOR ANALYSIS know

Answer 5

TI and NCG, determine tax on ordinary income then NCG

Question 6

TI is taxed at

Answer 6

Ordinary rates

Question 7

NCG taxed at pref rates

Answer 7

28% for collectibles

25% rate gain

Question 8

the tables just get us to prelim gains must consider:

Answer 8

qualified dividends

Question 9

qual div cant be offset by

Answer 9

capital losses

Question 10

qualified dividends still get

Answer 10

pref dividends- function of 1222 and 1h interacting

Question 11

policy for qual div not being able to offset capital losses

Answer 11

dont want rich to be able to sell off losers to offset div income

Question 12

qualified dividends taxed at

Answer 12

max rate of 20%

Question 13

excess losses limited by

Answer 13

1211b

Question 14

carryover provided for via

Answer 14

1212 indefinitely

Question 15

excess capital losses cant offset

Answer 15

qual div