07/23/2024

Navigating Taxable Gains and Losses When Selling Assets

There are two categories of gains and losses

What's s the difference between capital gains and losses and ordinary gains and losses? The classification will have a major impact on your federal income tax obligations when you sell assets, such as investments, real estate, intangibles and other holdings.

The classification of assets is generally straightforward, but the issue can be unclear in some situations.

Here's what you need to know if you plan to sell assets. 

Please select this link to read the complete article from OSAP Mission Partner Clark Schaefer Hackett (CSH).