Log in Subscribe

Understanding Capital Gains and Losses

By BARRY LISAK
Posted 12/14/20

Capital assets include a home, household furnishings and stocks and bonds held in a personal account. When a capital asset is sold, the difference between the amount you paid for the asset and the amount you sold it for is a capital gain or capital loss. Here are some facts from the IRS about gains and losses and how they affect your Federal income-tax return.

Almost everything you own and use for personal purposes, pleasure or investment is a capital asset.

This item is available in full to subscribers.

Please log in to continue

Log in