Capital Gains

Capital GainsAccording to Investopia definition, Capital Gain is an increase in the value of a capital asset (in our case, real estate) that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A capital gain may be short term (one year or less) or long term (more than one year) and must be claimed on income taxes. At Assurance Appraisals our appraisers can determine the true value of the real estate property based on current market value or retrospective value back in a set date in time. This value can be used in the future for taxation purposes, asset evaluation, or property sale.