First, we shall look at the basics of the capital gains tax.
Rules can get confusing and downright nonsensical, it’s best to have a grasp of the basics as best as possible that way, you’ll be better equipped to find out how to navigate some tax savings, as with anything with the IRS Code. Things just like fees and commissions, the cost basis doesn’t just include how much you paid for the asset.
The calculation for a longterm capital gainis the difference between the proceeds you get from the sale and the cost of capital asset.
Let’s sayyou have a regular brokerage account and you purchased 100 shares of Facebook Inc Email