Why is 100% of LTCG carrying to 1040 rather than 50%?

Forum|Forum|6 years ago
December 7, 2019
3 replies
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Best answer by sjrcpa

The 50% (I thought it was 60%) subtraction for long-term capital gains expired MANY years ago.

sjrcpa

Level 15

Is this some special sitration - such as for 1202 stock?

The more I know the more I don’t know.

sjrcpaAnswer

Level 15

The 50% (I thought it was 60%) subtraction for long-term capital gains expired MANY years ago.

The more I know the more I don’t know.

itonewbie

Level 15

Agree the 50% expired long ago but the OP doesn't seem to be interested in understanding the current provisions.

---------------------------------------------------------------------------------Still an AllStar

T

TaxMonkey

Level 7

I suppose that when you wrote your question it made perfect sense to you. However, to me there is not enough context to even vaguely understand what you are asking.

T

TaxGuyBill

Level 15

Apparently the OP disagrees with you (gave you a "no" vote), and seems to have no intention of giving any more information why he thinks only 50% of the gain should show up.

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