Complete the capital gains and losses netting process. Fill in the blank with the tax liability....
Complete the capital gains and losses netting process. Fill in the blank with the tax liability.
|
STCG/STCL (35%) |
28% |
25% |
LTCG/LTCL (15%) |
|
|
amount before netting |
200 |
(50) |
150 |
100 |
Homework Answers
Sol:-
The tax payer has a net short term capital gains of = 200
The tax payer has a net long term capital loss of = 100
The tax payer cannot combine the NSTCG and NLTCL
Therefore the NSTCG is treated like Ordinary income and the NLTCL is deductable as Net Capital loss (NCL)
Net Capital Loss =net long term capital losses - net short term capital gains
Therefore Net Capital Loss = 100- 200 = (100)
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