This note describes the difference between capital and income transactions. It then discusses the tax treatment of capital gains and losses. Specific issues addressed include the treatment of identical properties, superficial loss of principal residences, convertible securities and options. In several cases, tax planning opportunities are discussed.

This note describes the difference between capital and income transactions. It then discusses the tax treatment of capital gains and losses. Specific issues addressed include the treatment of identical properties, superficial loss of principal residences, convertible securities and options. In several cases, tax planning opportunities are discussed.
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Darroch A. Robertson
15 pages.
Release Date: 02 Dec, 1994. Prod #: 994B33-PDF-ENG
Capital gains and losses HBR case solution