ection 1221 of the tax code broadly defines a capital asset. Over time the courts have attempted to narrow that definition and eliminate confusion. Recently a Third Circuit Court of Appeals ruling ...

As noted above, taxpayers usually need to sell or exchange property to receive capital gain treatment. Additionally, a transaction needs to involve capital assets or otherwise be eligible for capital ...

Capital gains count as taxable income and can affect your tax bracket, deductions and rates. They are taxed as short-term or long-term gains depending on how long you owned the asset and your total ...