No, in fact it reduces any capital loss and even ordinary income (within limits)
I think so...
If you sell your home and buy another, you may or may not have to pay capital gains tax based on what how much equity you have, what law is in your state about capital gains tax, and also your economic situation of how you spend your funds.
No. You pay tax on dividends, which is NOT always the same as capital gains tax rate. Cuurently it is pretty much the same. althoug only a few years back it was the same as ordinary income.
The Bahamas has absolutely no personal income tax, no corporate income tax, no capital gains tax, and no inheritance tax.
Yes this could be possible when the state has a sales tax on the sale of land. On your federal income tax return 1040 schedule D or 4797 yes you would report the sale of the land and if you have a capital gain could have to pay some income tax on the amount of the capital gain.
You would NOT have a capital gain tax to pay when you have a loss on the sale of stock. You WILL HAVE to report the transaction on the schedule D of the 1040 tax form and up to 3000 of loss for the year will be used to offset up to 3000 of ordinary income for the year any amount of the remaining loss will then be carried over to the next years until the loss is completely used up.
No. You will not pay income tax in addition to capital gains tax if I understand you correctly. However, capital gains tax for an individual is reported and paid on your 1040 income tax return. The only difference is that the rate for capital gains taxes is lower than the regular income tax levels.
Yes, it is possible to pay capital gains tax early by voluntarily reporting and paying the tax before the deadline.
You pay tax on the profit from a sale. And get a tax benefit from a loss.
They would have to pay ordinary income tax on gains from mining. This would not qualify as a capital gain.
Yes it is always possible that may be required to pay some capital gains tax on the sale of your first house.
No, transactions in an IRA are tax exempt. (besides, you never have to pay taxes on a loss, it's only gains that are taxed).
Yes it is possible that you could have to pay some capital gains tax on the sale of some inherited capital assets.
No, you do not pay capital gains tax on dividends. Dividends are typically taxed at a different rate than capital gains.
Sure...but you pay tax on them anyway.
I think so...
You mean a casualty insurance payout? The amount that is for the loss of property is not taxable - as long as you didn't (and don't) claim a casualty loss on it for tax. (The payment means you have no tax loss).