A spreadsheet for netting property transactions at year end

A spreadsheet for netting property transactions at year end

Net gains on casualty or theft of personal properties are included in capital gains and losses. A net loss is available as an itemized deduction to the extent it exceeds 10% of adjusted gross income. Like items must be netted and moved along the chain until they reach their final destination in the...

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Veröffentlicht in:The CPA journal (1975) 1996-08, Vol.66 (8), p.40
Hauptverfasser: Duncan, William A, Everett, John O
Format: Artikel
Sprache:eng
Schlagworte:
Capital assets
Capital gains
Loss recognition
Management
Net losses
Property tax
Robbery
Software
Spreadsheets
Tax accounting
Taxpayers
Theft
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Beschreibung
Zusammenfassung:Net gains on casualty or theft of personal properties are included in capital gains and losses. A net loss is available as an itemized deduction to the extent it exceeds 10% of adjusted gross income. Like items must be netted and moved along the chain until they reach their final destination in the tax return. A spreadsheet that simplifies the entire process is provided.
ISSN:0732-8435