Tax Musings of a Burbank CPA: Ten Facts about Capital Gains and Losses

If you have sold stocks or bonds, rental real estate or other capital assets, you should take a look at this group of tips from the IRS about capital gains and losses.  It will give you all the general information about how to file the sales on your tax return:

http://content.govdelivery.com/accounts/USIRS/bulletins/a83b23?reqfrom=share

Now, the fun part begins – you have to calculate all those gains and losses.  If you sold securities, your broker should be able to give you a list of all the gains and losses; if real estate, you should have the original cost from the escrow statement when you bought the property.  Remember, if you sold your residence, that is a whole different animal.  Anyway, now you can get to work – April 15 is just six weeks away!

  Dollar Looking SideHouse for Sale   For financial,  accounting and tax musings,

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