The sale of a capital asset results in a capital gain (or loss). For the most part everything you own and use for personal purposes, pleasure or investment is a capital asset. Your house, car, stock or bonds, gems and jewelry, coins collections, stamp collections and antiques are just some of the items considered capital assets.
After you finish your federal tax return, your information will accurately and automatically transfer into your state return. Just answer a few state specific questions, and you're done.
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