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Deductions & credits
I have same question. too bad the level 15's and expert answers here, didn't answer the question.
Only Onomastico understood the key element: because gains, and income are taxed differently.
taxpayers have choices for when & how much, on donation amounts, taking gains, and income - its planning.
Long term losses 'first' have to be applied against long term gains, then short gains, then income.
So, What is the order in which the various sources of income are offset by a donation?
‎June 11, 2022
12:10 AM