Learn about when the capital gains tax applies. The capital gains tax only applies when you sell a capital asset for a profit. We’ll walk you through how to calculate your profits and effectively report them on your tax return. turbotax.intuit.com/tax-tips/investments-and-taxes/5-things-you-should-know-about-capital-gains-tax/L0m06D9lI 00:00 Intro 00:08 What Is A Capital Asset 00:20 Taxes on Capital Assets 00:30 How To Calculate Your Profit Subscribe to TurboTax for more tax tips: youtube.com/@turbotax?sub_confirmation=1 FAQ What exactly is a capital asset? A capital asset is essentially any property you own. While the list of capital assets is endless, common examples include your home, car, stocks, and even your personal furniture. turbotax.intuit.com/tax-tips/investments-and-taxes/guide-to-schedule-d-capital-gains-and-losses/L1bKWgPea How do I calculate my profit for the capital gains tax? Calculating your profit is straightforward: it is the difference b...