Capital Gains Tax Rules

On the subject of capital gains and capital gain taxes, the IRS has strict rules and regulations. Below are capital gains tax rules you should know when figuring out capital gains and losses. In order to figure out capital gain and capital gain tax, you need to figure out the basis of the property first. There are a few types of basis of a property such as cost basis and adjusted basis.

In this chapter, you will learn about the basis of property and how to figure it, how to handle short term capital gains and long term capital gains as well as how to report capital gains to the IRS on your income tax return. You will also learn how to report the sale of your home to the IRS on your tax return.

What is Basis?

Cost Basis

Adjusted Basis

Adjustments to Basis

Other Basis

Figuring Cost Basis