This course provides a foundational understanding of capital gains taxation and its impact on federal income tax liability. Participants will explore how capital assets are classified, how gains and losses are calculated, and how these figures interact with deductions and exemptions. While itemized deductions and standard deductions play a role in overall tax strategy, this course emphasizes the tax treatment of capital gains and losses, including short-term vs. long-term gains, basis adjustments, and offsetting strategies.

Taxpayers who realize capital gains may reduce their taxable income through strategic use of deductions, including those related to investment interest, charitable contributions, and casualty losses. Understanding how these deductions interplay with capital gains can lead to more effective tax planning and compliance.

Upon completion of this course, you should be able to:

• Distinguish between short-term and long-term capital gains
• Understand how capital losses can offset gains and reduce taxable income
• Identify deductions that directly or indirectly affect capital gains taxation
• Navigate Schedule D and related forms used to report capital transactions
• Apply strategies to minimize capital gains tax liability through timing and asset selection

Course Details

• Duration: Self-paced
• Who Should Attend: Tax professionals advising individuals and businesses on investment income, asset sales, and tax planning
• Course Level: Basic
• Prerequisite: None
• Advance Preparation: None
• Delivery Method: Self Study – Internet Based