Capital Assets: Basis and Taxation for Financial Professionals
Description
Objective
Define capital assets and distinguish them from ordinary income assets and Section 1231 assets Explain the concepts of realization and recognition, including key provisions for deferral or exclusion of capital gains Identify scenarios where capital losses may be disallowed or limited, including personal use assets, wash sales, and related-party transactions Differentiate between short-term and long-term capital gains/losses and their respective tax treatments Apply the proper methodology for netting capital gains and losses, including the $3,000 ordinary annual income offset limitation Calculate tax liabilities incorporating both ordinary income and capital gains components Distinguish between marginal and effective tax rates and their implications for tax planning Develop tax-efficient strategies for managing capital assets that align with client goals and regulatory compliance requirements
Attendee Information
Daniel Johnson
Required Knowledge
None
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