The tax law requires that capital gains and losses be separated from other types of gains and losses because an alternative tax calculation may be used when taxable income includes net long-term capital gain.

Question

Quizplus · Accepted Answer

Net long-term capital gain can be subject to a different tax rate than other types of income, so it is necessary to separate them in order to calculate the alternative tax accurately.

The Tax Law Requires That Capital Gains and Losses Be