Solved: Do I input the gross long term capital gain income received or the reduced long term capital gain amount from Sch. D Worksheet in the Louisiana Gains or Losses box?
Do I input the gross long term capital gain income received or the reduced long term capital gain amount from Sch. D Worksheet in the Louisiana Gains or Losses box?
Louisiana does not have clear written instructions on how to report long term capital gains. I have searched their entire website. If written instructions exist, please point me in the right direction - all I can find is references to stumpage which appear to refer to logging contractors not to owners.
Do I input the gross long term capital gain income received or the reduced long term capital gain amount from Sch. D Worksheet in the Louisiana Gains or Losses box?
Capital gains are taxable at both the federal and state levels. While the federal government taxes capital gains at a lower rate than regular personal income, states usually tax capital gains at the same rates as regular income. In Louisiana, the uppermost capital gains tax rate was 6 percent.
Do I input the gross long term capital gain income received or the reduced long term capital gain amount from Sch. D Worksheet in the Louisiana Gains or Losses box?
Thanks so much! I thought that might be the case and you have confirmed it for me.
Do I input the gross long term capital gain income received or the reduced long term capital gain amount from Sch. D Worksheet in the Louisiana Gains or Losses box?
Capital gains are taxable at both the federal and state levels. While the federal government taxes capital gains at a lower rate than regular personal income, states usually tax capital gains at the same rates as regular income. In Louisiana, the uppermost capital gains tax rate was 6 percent.
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