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CaNj
Level 2

1099-B Gain/Loss - Ordinary?

We had a gain from our 1099-B but unclear how to respond to the question whether "Gain or loss is ordinary?"  What does "ordinary" mean?

 

Thank you for your help!

CaNj

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‎April 10, 2022 10:38 PM
last updated ‎April 10, 2022 10:38 PM
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HelenC12
Expert Alumni
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1099-B Gain/Loss - Ordinary?

Generally, ordinary refers to a gain that is a result of holding a capital asset for less than one year. Ordinary gain is taxed at ordinary income tax rates and not capital gain rates.

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‎April 11, 2022 7:30 AM
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