1)How do capital transactions differ from ordinary transaction types? Should the maximum capital loss carryforward / carryback be increased substantially? By what amount?
2)How do capital gains and losses affect taxable income?© BrainMass Inc. brainmass.com October 10, 2019, 12:44 am ad1c9bdddf
1)How do capital transactions differ from ordinary transaction types?
Capital transactions differ from ordinary transactions because they are seen as gains or losses in which earnings are taxed and must be reported to the Internal Revenue Service (IRS) - if one is located in the USA. Capital transactions, referrd to as gains or losses come from the trade or sale of capital assets.
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The expert examines capital gain transactions.