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CaNj
April 11, 2022
Question

1099-B Gain/Loss - Ordinary?

  • April 11, 2022
  • 1 reply
  • 0 views

We had a gain from our 1099-B but unclear how to respond to the question whether "Gain or loss is ordinary?"  What does "ordinary" mean?

 

Thank you for your help!

CaNj

    1 reply

    H
    HelenC12
    April 11, 2022

    Generally, ordinary refers to a gain that is a result of holding a capital asset for less than one year. Ordinary gain is taxed at ordinary income tax rates and not capital gain rates.

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