Federal tax on a capital gain is lower than tax on income What is a capital gain?

Well, at less than half the amount of ordinary income tax rates, it isn't and your presumption is entirely wrong.

You are the only one that has all of the necessary information that will have to be reported on your income tax return for the year in order to do the calculation for the numbers that you are looking...

Capital gains are taxes that you pay on profit as a result of selling an asset. Usually you reconcile these when you do your IRS tax returns. You get a credit for the cost of the house (and...

General funds for the US Government, just like income tax money.

If this is a business asset then you will have to use the 1040 tax form 4797 to report the transaction on.You will use the information that is on the 1099-B to report the transaction on your 1040 tax...