capital gains tax deductions

Capital gains tax deductions refer to the deductions or exemptions allowed by tax authorities on the amount of taxable capital gains. These deductions can help reduce the overall tax liability for individuals or businesses when they sell certain types of assets that have appreciated in value. By deducting eligible expenses or losses from the sale of assets from the total capital gains, the taxable amount is reduced, consequently lowering the amount of tax owed. This allows individuals or businesses to retain a portion of their gains while fulfilling their tax obligations.

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