(redirected from Net Short-Term Capital Gain)
NSTCGNet Short-Term Capital Gain
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For example, if Susie has $900 of net short-term capital gain in addition to $1,200 of net long-term capital gain and/or dividend income, her taxable income is $1,050, but she does not have a tax liability.
Exhibit 2: Capital Gains and Losses--1998 Netting Process STEP #1 STEP #2 Ordinary Income: Short-term Capital Gain If Net Short-Term Capital Gain, extend to STEP #5 Short-term Capital Loss (If Net Short-Term Capital Loss, add to 28% Loss below) 28% rate: Collectibles & SBS(1) If Net 28% Gain, extend to STEP #5 Coll.
Thus, the new rule does not affect the treatment of net short-term capital gain for net investment income purposes.
Figure A S Corporation Total Net Income (Less Deficit), Tax Years 2005-2006 [Money amounts are in thousands of dollars] Item 2005 2006 (1) (2) Total net income (less deficit) 361,042,566 386,202,310 Net income (less deficit) from trade or business 282,903,509 295,929,473 Portfolio dividend income 4,892,559 6,471,731 Portfolio interest income 12,860,347 18,483,014 Portfolio royalty income 1,085,352 1,360,338 Portfolio net short-term capital gain (less loss) 2,064,545 1,508,376 Portfolio net long-term capital gain (less loss 48,653,357 54,205,761 Real estate rental net income (less deficit) 7,299,983 6,832,640 Net income (less deficit) from other rental activity 1,282,914 1,410,976 Change Item Amount Percentage (3) (4) Total net income (less deficit) 25,159,744 7.
to partners (excluding net short-term capital gain and net
Its net short-term capital gains are generally taxable and reported as ordinary income on Form 1099-DIV, when distributed, the fund added.
Income in these two categories is further disaggregated by source: ordinary; net short-term capital gains and losses; net long-term capital gains and losses; and nontaxable.