Sentences with phrase «capital loss for tax purposes»

If the value of an account is below its cost basis, investors can sell their shares and claim a capital loss for tax purposes.

This leads some investors to dump their losers near year - end, simply to establish a capital loss for tax purposes, to offset a capital gain.

In March 2014, the IRS began issuing guidance for the taxation of cryptocurrency, which they treated as a property that had capital gains or capital losses for tax purposes.

Not exact matches

You'll have a capital gain or a capital loss when you dispose of bitcoin because virtual currencies are considered property for tax purposes.

This hypothetical illustration assumes the investor met the holding requirement for long - term capital gains tax rates (longer than one year), the gains were taxed at the current maximum federal rate of 23.8 %, and the loss was not disallowed for tax purposes due to a wash sale, related party sale, or other reason.

The Budget will also «prevent the asymmetrical recognition of gains and losses on derivatives for tax purposes,» and «prevent the deferral of capital gains tax by investors in mutual fund corporations structured as switch funds.»

For tax purposes, capital losses are only reported on items that are intended to increase in value.

Whether it is shown as a «Capital Loss» and under which section OR the loss needs to be ignored for income tax purpLoss» and under which section OR the loss needs to be ignored for income tax purploss needs to be ignored for income tax purpose?

This Budget will also «prevent the asymmetrical recognition of gains and losses on derivatives for tax purposes,» and «prevent the deferral of capital gains tax by investors in mutual fund corporations structured as switch funds.»

When an asset is sold, its cost basis is used instead of the actual purchase price to determine the accurate capital gain or loss for capital gains tax purposes.

When you sell, at a loss, a security of any sort that would be treated as a capital item, the loss will be disallowed for tax purposes if you purchased substantially the same security within 30 days before or after the sale:

For tax purposes, you will be considered to have disposed of the shares at the fair market value and you will have to report any capital gains (but you can't claim any capital loss).

Unitholders who redeem their units prior to the Restructuring will realize a capital gain or loss for Canadian income tax purposes.

A transfer of units of the Fund to the Corporation for shares of the Corporation will be a disposition for Canadian income tax purposes, which may result in a capital gain or loss to unitholders who hold their units outside of registered plans.

So, what initially appeared to be an accrued capital loss of US$ 2,000 (US$ 10,000 — US$ 8,000) turned out to be a capital gain of $ 962 ($ 10,966 — $ 10,004) for Canadian tax purposes!

Your redemptions, including exchanges, may result in a capital gain or loss for federal tax purposes.

Installment Sales related items, Foreign Tax Credit, Passive Activities, Net Operating Loss carryovers, Schedule D amounts containing unrecaptured section 1250 gain (or anticipated for AMT purposes), sale of disposition of business assets, investment interest expense election including net capital gains in investment income, and items covered under «at risk» rules will not be accommodated by the system.

In particular, we are interested in any practical issues that may impact on taxpayers» abilities to calculate and substantial any capital gains and losses for capital gains tax (CGT) purposes.»

Essentially, the official announcement states, «In particular, we are interested in any practical issues that may impact on taxpayers» abilities to calculate and substantial any capital gains and losses for capital gains tax (CGT) purposes.»

In general, the adjusted tax basis of a principal residence is the cost of the property (i.e., what you paid for the property when you first purchased it), plus amounts paid for capital improvements, less any depreciation and casualty losses claimed for tax purposes.