Capital Gains and Losses
Federal Tax Course – Lesson 8

Introduction 801
What are Capital Assets? 802
Reason for Special Treatment of Capital Gains and Losses 803
Treatment of Gains and Losses — In General 804
Long-Term and Short-Term Capital Gains and Losses 805
How Capital Gains are Taxed 806
Capital Losses and Capital Loss Carryover 807
Capital Gains Exclusion for Small Business Stock 807A
Gains and Losses on Business Property (Sec. 1231 Assets) 808
Computing Gains and Losses on Sec. 1231 Property 809
Special Rule for Casualties and Thefts 810
Gains and Losses on Farm Property 811
Related Party Transactions 812
Full Definition of “Capital Assets” 813
Holding Period 814
Wash sales 815