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What can you tell me about Capital Gains Tax? Where can I get accurate information on Capital Gains tax and Capital losses?

If it helps, I make less than 35k a year.

May 02, 2013 by Matthew from Norwalk, CA in  |  Flag
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3 votes
David Fabian Level 19

While i'm not a CPA and not qualified to give personal tax advice, I have always found that information on Investopedia is very accurate and concise. They have the following link on Capital Gains that may help answer some of your questions: http://www.investopedia.com/terms/c/capitalgainstreatment.asp

In addition, I would recommend that if you are looking for the capital gains information for a specific investment account that you contact your broker and request a copy of your 1099 which will have all of the buy and sell data for the prior year. Best of luck.

Comment   |  Flag   |  May 02, 2013 from Irvine, CA

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2 votes

In addition to David's response, you can use the following link to get more information. For tax issues I like to go straight to the source, which is IRS's website:

http://www.irs.gov/taxtopics/tc409.html

I am also posting another link which talks specifically about the 2013 rates, as these have all changed recently.

http://www.nerdwallet.com/blog/investing/2013/2013-capital-gains-tax-rates/

Hope this helps. Otherwise, my partner Rob Riedl is a CPA and you are welcome to give us a call, if you have a specific question. Our website is www.endowmentwm.com.

Comment   |  Flag   |  May 03, 2013 from Appleton, WI

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