LoriLeighEA
Expert Alumni

Retirement tax questions

Welcome, pzenanko!

 

Short answer is no.


A capital gain occurs when you sell an asset for a price higher than it's basis.

If you hold an investment for more than a year before selling, your profit is considered a long-term gain and is taxed at a lower rate.

Capital assets are significant pieces of property such as homes, cars, investment properties. stocks, bonds and even collectibles or art.

 

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