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How much is the Tax amount on a reportable capital gain of 33200.00?
Wiki User
∙ 14y ago
You will not know this until you have completed your income tax return correctly.
For the tax year 2009 long term capital gains on the sale of securities, stocks and bond that are reported on the schedule D of the 1040 tax form by a individual taxpayer is taxed at the -0-% to 15% maximum LTCG rate.
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∙ 14y ago
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If you sell stock do you owe tax on the capital gain of the stock or entire principle amount?
You only owe tax on the capital gain.
When you file your income tax return for 2009 do you have to include capital gains from a inheritence?
You get it from the estate, and its value at that time is your basis. (Establishing value with somethings can be tough, like art work, but must be done. Stock is easy, just look up the historical price). If you sell it after you get it...the amount you sell it for above what it was worth when you got it is a reportable capital gain by you.
What is capital gain dividend?
Capital gain dividends also are called capital gain distributions. They're paid to you or credited to your account by such sources as mutual funds and real estate investment trusts (REITs). The Payer sends you Form 1099-DIV (Dividends and Distributions). The amount of the capital gain dividends are shown in box 2a (total capital gain distr.). These distributions are reported as long-term capital gains, no matter how long you've owned your shares in the mutual fund or REIT. For more information, go to www.irs.gov/formspubs for Publication 550 (Investment Income and Expenses).
How do you claim a demutualization membership payment?
From the IRS Tax Topic 430: If you elected to receive cash instead of stock in the tax-free reorganization, you are deemed to have received shares and then to have sold them back to the corporation (i.e., redeemed your shares). Generally this results in capital gain or loss reportable on Form 1040, Schedule D, Capital Gains and Losses. If you owned the policy for more than one year as of the date of the demutualization, the gain or loss is treated as long-term capital gain or loss. If you owned the policy for a year or less, the gain or loss is short-term capital gain or loss. So basically, you'll report the payment on Schedule D either as long- or short-term depending on how long you'd owned the original policy.
Can you offset Capital Gain Dividend with capital loss?
A capital gain and a dividend are two different things completely. You can offset a Capital Gain with Capital Losses, but you cannot offset dividends with capital losses. They are different items and are reported on different forms.
If you sell stock do you owe tax on the capital gain of the stock or entire principle amount?
You only owe tax on the capital gain.
When you file your income tax return for 2009 do you have to include capital gains from a inheritence?
You get it from the estate, and its value at that time is your basis. (Establishing value with somethings can be tough, like art work, but must be done. Stock is easy, just look up the historical price). If you sell it after you get it...the amount you sell it for above what it was worth when you got it is a reportable capital gain by you.
How would one explain what capital gain is?
Capital gain is when the sale of an item or asset is higher than the original price of purchase, the extra amount after the original sale price has been deducted is known as the capital gain.
The difference between the amount of money received from selling an investment and the amount of money spent to purchase the investment its known as?
The difference between the amount of money received from selling an investment and the amount of money spent to purchase the investment is known as the capital gain or loss. When the capital gain or loss is then compared to the initial investment (through division), the result is the capital gains yield or return on investment (assuming there are no cash flows such as coupon payments or dividends).
If an individual reported capital gain in 2007 and had to pay a medicaid penalty in 2009 can this penalty amount be counted as a capital loss against the capital gain?
The medicaid item is NOT a deductible amount of any nature (penalties to start generally aren't and medicade contributions aren't either). And certainly in any regard would not be a capital item ever. Medicaide is NOT a capital asset, it may have a cost, but you do not have any basis invested to calculate a gain or loss from. (Consider that what your thinking would then mean every payment or coverage you receive would then have to be a capital gain).
Can a Corporation that comes into substantial profit from the sale of an asset use the profits to buy back outstanding shares to avoid capital gains tax?
No. The sale of a property that results in a profit results in a capital gain. Capital Gains are reportable on the 1120 and the state form (if the state has an income tax). The repurchase of shares (buy-backs) are not a taxable transaction.
What is the population of Gain Capital?
Gain Capital's population is 380.
When was Gain Capital created?
Gain Capital was created in 1999.
What is capital gain dividend?
Capital gain dividends also are called capital gain distributions. They're paid to you or credited to your account by such sources as mutual funds and real estate investment trusts (REITs). The Payer sends you Form 1099-DIV (Dividends and Distributions). The amount of the capital gain dividends are shown in box 2a (total capital gain distr.). These distributions are reported as long-term capital gains, no matter how long you've owned your shares in the mutual fund or REIT. For more information, go to www.irs.gov/formspubs for Publication 550 (Investment Income and Expenses).
What does the word income mean?
According to Merriam-Webster: "A gain or recurrent benefit usually measured in money that derives from capital or labor." Or "the amount of such gain received in a period of time."
How do you claim a demutualization membership payment?
From the IRS Tax Topic 430: If you elected to receive cash instead of stock in the tax-free reorganization, you are deemed to have received shares and then to have sold them back to the corporation (i.e., redeemed your shares). Generally this results in capital gain or loss reportable on Form 1040, Schedule D, Capital Gains and Losses. If you owned the policy for more than one year as of the date of the demutualization, the gain or loss is treated as long-term capital gain or loss. If you owned the policy for a year or less, the gain or loss is short-term capital gain or loss. So basically, you'll report the payment on Schedule D either as long- or short-term depending on how long you'd owned the original policy.
Can you offset Capital Gain Dividend with capital loss?
A capital gain and a dividend are two different things completely. You can offset a Capital Gain with Capital Losses, but you cannot offset dividends with capital losses. They are different items and are reported on different forms.
