If I have one long term capital gain item, and no short term gains or losses, it appears that I cannot use the tax calculation provided in section 4 of schedule D, and must include the LT cap gain as ordinary income, taxed at the higher rate. The gain item is from the sale of a property bought to rehab and sell, never rented or lived in. Have I missed something? Yes, you have. Tell us exactly what is leading you to the conclusion that you don't use Part IV to compute your tax.Phil MartiVITA Volunteer
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra