How to Calculate Your Capital Gains Taxes

.How to calculate your capital gains taxes, which form to use and limits on losses. If you want to purchase Foreign Currency as an Investment Go Here:
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IRS Capital Gains Taxes
https://www.irs.gov/taxtopics/tc409

The tax rate on most net capital gain is no higher than 15% for most individuals. Some or all net capital gain may be taxed at 0% if your taxable income is less than $78,750.  (This amount could change in the future) A capital gain rate of 15% applies if your taxable income is $78,750 or more but less than $434,550 for single; $488,850 for married filing jointly or qualifying widow(er); $461,700 for head of household, or $244,425 for married filing separately. However, a net capital gain tax rate of 20% applies to the extent that your taxable income exceeds the thresholds set for the 15% capital gain rate.There are a few other exceptions where capital gains may be taxed at rates greater than 20% but I won't go into that. 

Limit on the Deduction and Carryover of Losses
If your  losses exceed your capital gains, you can only deduct up to $3000  or $1500 if married filing separate.  The good news is you can carry over the loss into future years.  

Where to Report Capital Gains Taxes
Report most sales and other capital transactions and calculate capital gain or loss on Form 8949, Sales and Other Dispositions of Capital Assets. When using consumer tax software, the summary information from Form 8949 rolls over on to Schedule D  Capital Gains and Losses BUY IRAQI DINARS
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