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Principles of Taxation for Business and Investment Planning, 5/e
Sally M Jones, University of Virginia
The Measurement of Taxable Income
Property Dispositions

Internet Applied Exercise Chapter 7

The objective of this exercise is to download some of the IRS Statistics of Income data and see the magnitude of the capital gains and losses.

From the IRS Tax Statistics for Individuals page download the executable file labeled 96INASI.EXE. Check the file for viruses, execute the file, and unpack the Excel file named 96INASI.XLS.

  1. Approximately what percentage of all tax returns filed in 1996 include some net capital gain in AGI?
  2. Why do you think we spend so much time discussing capital gains when the majority of all individual returns do not show net capital gains?




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