- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Long term capital gain treated as ordinary income.
I saw in form 1040, we have two values X (short-term gain) and y (long-term gain).
Part I Short-Term Capital Gains and Losses— Line number 7 (Y)
Part II Long-Term Capital Gains and Losses—Generally Assets Held More Than One Year - Line number 15 (Y)
Part III Combine lines 7 and 15 and enter the result, we combine both W = X+Y.
then added " Capital gain or (loss). Attach Schedule D if required. If not required, check here " W added in ordinary income. no, differentiate between long-term and short-term gain.. where i am missing the information?
July 16, 2022
11:37 AM