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Can I income average capital gains?

Posted on: 19th May, 2010 03:58 pm
My husband is a real estate agent. 2008 income was -$5020.00 . 2009 income was -$12,000.00 We are trying to property line adjust and then sell our own vacant land (owned for 5+ yrs.) Can we income average for 2010 ?
Hi hazel,

You might be able to get an average of the income for 2010 with the help of the income figures you had in 2008 and 2009. But you need to consult an accountant or a tax consultant in this regard as they are the right people to guide you in matters like this.
Posted on: 19th May, 2010 10:34 pm
Long-term capital gains generally at a lower rate than regular income are. To encourage entrepreneurship and investment in the economy is. Tax conscious mutual fund investors and mutual fund deposits unrealized capital gains, which expressed as a percentage of its net assets are an important component of unrealized capital gains in a fund before investing, must determine. The condition of a fund is referred to as capital gains exposure. When distributed by a Fund, capital gains liability is eligible for fund investors.
Posted on: 30th Jun, 2010 07:06 am
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