Capital gains and losses occur when a taxpayer sells a capital asset such as stocks, bonds, or the sale of your main home. This information is generally reported to you on a 1099-B or 1099-S form.
Capital gains and losses are classified as short-term or long-term. Short-term assets are held for 1 year or less. Long-term is for assets held over 1 year.
To make a capital gain or loss entry, visit:
- Federal Section
- Income
- Capital Gain and Losses
