Long Term & Short Term Capital Gains Tax Rate 2011, 2012

[gvblk4yt]

What about Stocks and mutual funds We have several that we sold recently

that we have held for up to 25 years How do you calculate gain/loss after several splits and in some cases new company ownership or buyout

ex GTE stock ESOP 1985 want to sell now it is Verizon for quite a few years

In most cases we have the statements to get the value when purchased and sold.... I used Turbo Tax but have never done stock long term captia loss/gain

Thanks

Greg

[cilva7able]

just send me a message when you respond to this.

[cilva7able]

is there a cap on the amount you can deduct for capital loses?

[HarborFinancial]

Yes. $3,000 per yr. You can carry additional losses to future years though.