Introduction to Capital Assets | Capital Gains Capital Losses | Income Tax Course | TCJA | CPA Exam

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Recognized gains and losses must be properly classified. Proper classification depends on three characteristics:
The tax status of the property (capital, § 1231, or ordinary).
The manner of the property’s disposition (sale, exchange, casualty, theft, or condemnation).
The holding period of the property (short-term: one year or less; long-term: more than one year).
Personal use assets and investment assets are the most common capital assets owned by individual taxpayers. Personal use assets usually include things like a residence, furniture, clothing, recreational equipment, and automobiles. Investment assets usually include stocks, bonds, and mutual funds. Remember, however, that losses from the sale or exchange of personal use assets are not recognized.
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[@Fl4shj0st]

My god! one hour in class and I don't get it but, it took you only 19 plus minutes to make me understand all of it. Thank you so much for these lectures professor Farhat.

[@AccountingLectures]

Hi K D, you are welcome.Please subscribe and share the website on your social media and connect with me on Facebook and LinkedIn:website: www.farhatlectures.com
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[@antonmursid3505]

Antonmursid🙏🙏🙏🙏🙏✌🇲🇨🇲🇨🇲🇨🇲🇨🇲🇨✌💝👌🙏

[@fynewine81]

Testimony: Special shout out to you Professor Farhat! I Supplemented my studies with your CZcams videos and subscribed to your website. All in all Your content helped me pass my exams on the 1st try. Your videos expand/takes a deeper dive into topics that my book only touched upon either cursory or on a higher level. Very detailed explanation and examples. Thank you again!

[@SL_Nature77]

Thank you so much for the lecture. Without your lecture video, I wouldn't pass my tax class for sure. I was so lost in my tax class this semester but your video helped me better understand tax concepts. Thank you.

[@AccountingLectures]

You are welcome! Here's my income tax course resources: farhatlectures.pathwright.com/library/?category=Taxation

[@viewerindependent]

genius explanation on all 3 trucks. finally sank in! Thank you!

[@AccountingLectures]

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[@jerryakamuadams6399]

thanks! i just started a small side business last year (that evolved from a little side hobby) and now its tax time and im neck deep in accounting basics, trying to figure out my income and expenses. i should of kept better track of it throughout the year. o well now i know. thanks for this video it was helpful to a non-accountant person like me

[@AccountingLectures]

Fantastic! wish you all the best Jerry.

[@kamranjohn154]

20% Tax rate for LTCG --- Income Breakpoint for HOHH is 452,400 instead of 542,400 ... Thanks for your lectures... they helps a lot

[@AccountingLectures]

You are most welcome. Please subscribe and share.
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[@lynda9338]

Very helpful thank you so much, professor.

[@AccountingLectures]

Most welcome!
Check my website for more:
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[@yaliqin9580]

Thanks, great lecture!

[@AccountingLectures]

You are welcome! Here's my tax courses: farhatlectures.pathwright.com/library/?category=Taxation

[@geoffreyeickmann9027]

A personal debt becomes a loss at the time you right off the bad debt. Am i correct?

[@AccountingLectures]

Yes.

[@shaungorham5479]

Ohio, Thanks.

[@AccountingLectures]

You bet! Please connect with me: linktr.ee/farhatlectures

[@mdhoque6198]

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