Term
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Definition
1. Ordinary Income
2. Capital Gains |
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Term
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Definition
| Income generated by providing goods and services. It usually takes the form of wages and salaries. |
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Term
| Qualified dividends and long-term capital gains are taxed at the same maximum rate of: |
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Definition
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Term
| Mutual Fund dividends are taxed upon the: |
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Definition
| type of distribution made to the share holder |
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Term
| Ordinary Income consists of: |
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Definition
| Wages, tips, salaries, interest, cash dividends, some retirement plan distributions, mutual fund dividends. |
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Term
| Capital Gain events consist of: |
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Definition
| Stock sales, bond sales, and mutual fund redemptions |
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Term
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Definition
| Is the length of time an asset is held by its owner. |
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Term
| Net Short-term capital gains are taxed as: |
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Definition
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Term
| Net Capital losses can be used: |
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Definition
| To offset ordinary income on a $1 by $1 basis in any tax year up to a maximum of $3000.00 |
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