Capital Gains, defined by 26 U.S.C. §1222, are taxable profits from selling appreciated assets. Long-term capital gains receive favorable tax rates. The step-up in basis may eliminate taxable gain at death.
Capital Gains, defined by 26 U.S.C. §1222, are taxable profits from selling appreciated assets. Long-term capital gains receive favorable tax rates. The step-up in basis may eliminate taxable gain at death.