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The Limitation on Capital Losses
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=0uWmwttG1lo
Learn or review the limitation on capital losses of IRC § 1211. This video covers this disallowance provision, as well as the treatment of individuals' capital loss carryforward under IRC § 1212. Professor Lederman Professor Emily Cauble co-host. A prior video in this series ( • Capital Gains Losses: An Introduction ) covers how to determine if a gain or loss is capital or ordinary. A separate video ( • The Capital Gains Preference ) covers the capital gains preference applicable to individuals. • CONTENTS OF THIS VIDEO: • 00:00 - Introduction Overview • 00:28 - Caveat (this is not the video addressing how to determine if a gain/loss is capital) • 00:42 - Recommended Initial Set-Up For Capital Gains Losses Problems • 01:17 - Recommended Approach • 01:58 - IRC § 1211 • 02:55 - The Concept of Basketing • 03:05 - Example Applying IRC § 1211 • 04:34 - IRC § 1212 • 06:30 - IRC § 1222 • 07:21 - Applying IRC § 1212 to the Example • 08:37 - Determining the Holding Period of the Carried Forward Losses • 09:44 - The Carryover Numbers In the Example • 11:45 - Caution: Excess of Subtractions Cannot Yield a Negative Number • 12:08 - Example With the Addition of Qualified Dividend Income • 13:07 - Code Section Summary Subscribe Button • Break Into Tax thanks Stephen Mazza for comments on a draft of this video and Nickolas Cole for outlining the images in the thumbnail. Nothing from Break Into Tax is legal or tax advice. • The image of the basket is from https://www.maxpixel.net/Clipart-Cont..., Creative Commons License CC0 (public domain). • Thank you for watching! We are building a library of videos and subscriber base. Thank you for sharing our videos with your friends, and please let us know if there are topics you'd like to see us cover! • #CapitalLosses #LimitationOnCapitalLosses #IncomeTax #IRC1211 #IRC1212 #TaxTerminology #FederalIncomeTax #TaxConceptsSimplified #EmilyCauble #BreakIntoTax
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