Not owing any capital gains? How?
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kelby
Apprentice
Joined: 30 Jan 2004
Posts: 6
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 Posted: 10/18/07 - 06:43 Post subject: |
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| I have recently started working out a financial plan for the next year and a part of this is seeing the taxes I need to pay. However, of all the categories of standard taxes I have to pay, it seems I am not owing any capital gains. I am not sure how is that possible, and whether I have made some mistake. If anyone could give me some advice, that would be great. |
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bordy
Apprentice
Joined: 30 Dec 2006
Posts: 8
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| Posted: 11/27/07 - 01:41 Post subject: |
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| Capital gains come from any large income you make during a tax year. For example, if you have some shares and got a payoff, that would give you a capital gain. Also, any investment that returned a great amount of money would be counted as a capital gain. Finally, selling a property also counts as a capital gain. If you did not do any of these things, then you certainly do not own any capital gains. It seems to me that you did not make any mistake and in that case you can be sure you did not miss paying any taxes. Best of luck. |
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