Chapter 12 (QSBCs and Capital Gains Credit) Flashcards
1
Q
Where does the capital gains deduction show up on the tax return?
A
Division C
2
Q
Who is eligible for the capital gains deduction?
A
QSBCs
3
Q
What is ABIL equal to?
A
50% business investment loss
4
Q
What is special about ABIL?
A
Deductible against any source of income!
