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November 11, 2021 at 03:19 PM
Related: 14 Rollover Tax Facts to Know
Advisors have many tax implications to consider before — and after — their clients realize a capital gain or loss. Generally, anything held as an investment is a capital asset, except that rental real estate is typically not a capital asset because it is treated as a trade or business asset.
Many people hold these types of investments in their retirement accounts, but the sale of such a large asset can trigger enormous tax obligations, which is why advisors should be fully informed before such an action is taken.
In the gallery above are 15 important tax and financial planning questions and answers advisors should be aware of regarding the taxation of capital gains and losses, according to ALM’s Tax Facts Online.
(Graphics: Chris Nicholls/ALM)
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