This lesson is best used after studying Federal Income Taxation: Property Transactions, in class. The lesson includes problem sets to work through, allowing you to apply the Code and Regs. to a variety of situations involving capital gain and capital loss mechanics.
On completion of the lesson, the student will be able to:
1. Calculate a taxpayer's net capital gain and loss, including for a corporation.
2. Explain the rules for carrying forward an individual's capital losses.