Sales of capital assets reported on individual income tax returns, 1999

Sales of capital assets reported on individual income tax returns, 1999 – Illustration

Janette Wilson

Net capital gains (i.e., net of capital losses) increased by more than 22 percent for Tax Year 1999, increasing by over $98 billion to $530.7 billion from Tax Year 1998 amounts [1]. Taxpayers reported 182.4 million transactions, an increase of more than 28 percent from the previous year. More than 57 percent of these transactions were corporate stock sales. Increased sales of capital assets during Tax Year 1999 reflected the continued growth of the economy as stock prices as measured by the Standard and Poor 500 Index rose 22.3 percent [2].

The total sales price for all assets increased by over 54 percent for Tax Year 1999, increasing by over $1.26 trillion to approximately $3.6 trillion from the previous years’ amount. More than 56 percent of the total sales price was from corporate stock sales. Of the $2.0 trillion corporate stock sales, 76.2 percent were short-term and 23.8 percent long-tem.

Capital gains from sales of corporate stock accounted for 42.4 percent of total net capital gains. The next largest sources of capital gains were pass-through entities with 25.3 percent, and capital gains distributions from mutual funds at almost 11.5 percent of total net capital gains (see Figure A).

Detailed Tables

Tables 1 through 4 present detailed data on sales of capital assets for 1999. Tables 1 and 2 show aggregated data from transactions reported on the following tax forms: Schedule D (Capital Gains and Losses and Reconciliation of Forms 1099B); Form 4797 (Gains and Losses from Sales or Exchanges of Assets Used in a Trade or Business and Involuntary Conversions); Form 6252 (Installment Sales); Form 8824 (Like-Kind Exchanges); Form 4684 (Casualties and Thefts); Form 2439 (Undistributed Long-Term Capital Gains); and Form 6781 (Gains and Losses from Section 1256 Contracts and Straddles). Capital gains and losses reported on other forms and carried to Schedule D were also included. Tables 3 and 4 present data on holding periods and months of sale.

Table 1 shows the distribution of gain and loss transactions by asset type and whether they were treated as short-term or long-term. Capital gain distributions and pass-through gains from partnerships, S corporations, and estates and trusts were counted as one transaction even though the gain or loss may be from more than one entity.

Taxpayers reported 182.4 million transactions for 1999, an increase of 28.3 percent from 142.2 million for Tax Year 1998. Sales of corporate stock were the largest category of both short-term and long-term transactions whether measured by the number of transactions, sales price, or amount of net gain or loss. Of the more than 105 million corporate stock transactions, 72.7 million were short-term, and 32.8 million were long-term. This represented a 19.3-percent increase in the number of long-term stock transactions and a 52.6-percent increase in the number of short-term transactions. Thus, the percentage of all stock transactions that were short-term increased from approximately 63 percent for Tax Year 1998 to 68.9 percent in 1999. This increase in short-term stock trading reflected rising stock prices and increased activity by ‘day traders.’ This is illustrated by the increase in the average number of short-term stock transactions from 8.56 in Tax Year 1998 to 10.2 for 1999.

The second largest category in terms of number of transactions was sales of mutual funds followed by capital gain distributions from mutual funds. The number of transactions was 26.9 million (increasing 24.3 percent from 21.6 million during the previous year) and 17.1 million respectively (just 6.0 percent more than for 1998).

Total sales price for all transactions was $3.6 trillion, an increase of over $1.26 trillion or almost 55 percent from 1998 amounts. For Tax Year 1999, $2.5 trillion or 68.6 percent were short-term. These numbers were $1.3 trillion and 58.1 percent respectively for Tax Year 1998. Corporate stock sales accounted for approximately $2.0 trillion of the total sales price, $1.5 trillion for short-term and approximately $480 billion for long-term. Mutual funds were the second largest category having $503.4 billion in sales price, $360.3 billion for short-term and $143.1 billion for long-term.

For 1999, taxpayers reported $530.7 billion net capital gains, an increase of $98.5 billion from the previous year [3]. Short-term sales accounted for a net capital gain less loss of $40.1 billion. For Tax Year 1998, short-term capital losses were larger than gains by 5.5 billion. Long-term sales accounted for $490.6 billion of the total gain amount. Corporate stock, the largest category in terms of net capital gain less loss reported a net gain of approximately $225.1 billion. Of this amount, short-term sales accounted for a net capital gain of $27.2 billion, and long-term sales were a net capital gain of $197.9 billion. Pass-through entities were the second largest category when measured by net gain less loss with $134.0 billion, followed by capital gain distributions with $61.0 billion.

Table 2 shows the distribution of short-term and long-term gains and losses by adjusted gross income class for selected asset types. For all transaction types, approximately 11.1 million taxpayers reported short-term capital gains or losses, while more than 25.6 million taxpayers reported long-term capital gains or losses. For Tax Year 1998, approximately 9.6 million taxpayers reported short-term capital gain or losses, and about 23.8 million reported long-term.

Corporate stock was reported by more taxpayers than any other asset category. Approximately 7.1 million taxpayers reported short-term gains or losses on corporate stock, and 8.8 million reported long-term capital gains or losses (for Tax Year 1998, these numbers were approximately 6.0 million and 7.7 million, respectively). For 1999, these taxpayers reported 72.7 million stock transactions with short-term gains or loss, and 32.8 million transactions with long-term gains or loss. The number of transactions per taxpayer increased with income for short-term and long-term corporate stock sales with the exception of taxpayers with a negative adjusted gross income. For example, taxpayers with $1 million and over in AGI reported an average of 42.3 short-term transactions, compared to an average of 6.4 short-term stock transactions for taxpayers with AGI under $20,000. For Tax Year 1998, these taxpayers reported an average of 33.6 short-term transactions and 4.5 transactions, respectively. For Tax Year 1999, taxpayers with a negative adjusted gross income reported an average of 14.9 transactions. A similar trend can be found for taxpayers with long-term transactions. Taxpayers with an AGI of $1 million more had an average of 16.9 transactions, while taxpayers with an AGI of under $20,000 had an average of 2.2 transactions. Taxpayers with an AG of $1 million and over accounted for approximately 33 percent of short-term gains and 47.2 percent of long- term gains for all capital transactions. These taxpayers accounted for an even higher percentage of long-term capital gains from corporate stock, approximately 55.1 percent.

Table 3 shows the month of sale for selected asset types. One highlight of this table is that it illustrates taxpayer tendency to realize capital losses in December. Losses in December were more than twice as high as any other month, accounting for 26.3 percent of losses where dates were determinable (18.0 percent including transactions where dates were not determinable). A comparison of 1998 and 1999 data shows that this pattern remained almost the same (for Tax Year 1998, December sales accounted for 26.9 percent of losses). For short-term transactions, 22.5 percent of losses where dates were determinable were reported in December (15.6 percent including transactions where dates were not determinable). For long-term transactions, 32.5 percent of losses where dates were determinable were reported in December (21.7 percent including transactions where dates were not determinable). For sales of corporate stock, short-term and long-term losses in the month of December accounted for 18.2 percent and 27.2 percent of losses, respectively (including transactions where dates were not determinable).

Table 4 shows the distribution of transactions by holding period for selected asset types. For short-term sales, transactions held less than 1 month are the largest category when measured by the number of transactions and sales price. For example, the number of short-term gain stock transactions reported with a holding period less than 1 month accounted for 48.3 percent of short-term stock transactions, 58.7 percent of the sales price, and about 37.9 percent of the short-term gain amount (excluding transactions where dates were not determinable). A comparison of 1998 corporate stock short-term gain transactions shows similar trends for number of transactions, sales price, and amount of gain (42.6 percent, 54.4 percent, and 32.1 percent, respectively (not including transactions where dates were not determinable).

Explanation of Selected Terms

Categories of Assets:

Corporate stock.–Includes shares of common stock and short sales.

U.S. Government obligations.–Includes bonds, notes, and bills issued by the U.S. Government.

State and local government obligations.–Includes bonds, notes, bills and other debts issued by States, cities, or local governments.

Other bonds, notes and debentures.–Includes bonds and other debt obligations issued by corporations and all other types of debt obligations.

Put and call options.–A call gives the holder the right to buy the underlying asset by a certain date for a certain price. A put option gives the right to sell an asset by a certain date for a certain price. This category includes put and call options, straddles, and futures contracts on corporate stock.

Futures contracts.–Includes futures contracts on commodities, foreign currency, interest rates, stock price indexes, and other financial derivatives and instruments.

Tax-exempt bond mutual funds.–Includes sale of shares of mutual funds and investment trusts invested in bonds and other debt instruments of State and local governments.

Partnerships, S corporations, and estates and trusts.–Includes sales of partnership interests and S corporations. S corporations allocate earnings to shareholders and are taxed at the individual shareholder level.

Mutual funds, except tax-exempt bond funds.–Includes sales of shares of mutual funds and real estate investment trusts.

Livestock.–includes cattle and other animals held for work, breeding, bearing fur, and depreciable animals.

Timber.–Includes cut or standing timber, and timber sales that qualify for 1231 treatment.

Involuntary conversions.–Includes involuntary conversions resulting from destruction, theft, condemnation, or eminent domain.

Residential rental property.–includes apartments, duplexes, motels, nursing homes, and similar residential properties.

Depreciable business personal property.-Includes property used in business, such as equipment, machinery, and vehicles.

Depreciable business real property.–Includes office buildings, shopping malls, factory buildings, warehouses, and similar real property.

Farmland–Includes farm and ranch land, farms, and ranches.

Other land–Includes undeveloped land other than farmland.

Residences.–Principal residences.

Other assets.–Includes other assets not included in the above categories, such as collectibles, bad debts, and copyrights.

Unidentifiable.–Includes assets where the description is unreadable, unidentifiable, or not present.

Pass-through gains and losses.–Includes capital gains on assets sold by partnerships, S corporations, and estates and trusts, and distributed to be taxed at the individual partner, shareholder, and beneficiary level.

Capital gain distributions.–Distributions by mutual funds to shareholders of capital gains from sales of assets by mutual funds.

Other Terms:

Basis.–The original cost of the investment adjusted by adding the cost of expenses of the sale or any improvement costs. In addition, depreciation, amortization, and depletion deductions are subtracted.

Sales price.–The gross selling price of the asset, including the cash or fair market value of other property received.

Capital Asset.–Property owned and used for investment, personal, or pleasure uses.

Gain (or loss).–The difference between the sales price and the cost or other basis, less any depreciation.

Net capital gains.–Capital gains less capital losses.

Section 1231 gains and losses.–Property used for trade or business, property held for the production of rents and royalties, and property subjected to an involuntary conversion.

Short-term.–The holding period for short-term capital gains and losses is 1 year or less.

Long-term.–The holding period for long-term capital gains and losses is more than 1 year.

Data Source and Limitations

The statistics in this report are estimates from a probability subsample of unaudited Individual Income Tax Returns, Forms 1040, 1040A, 1040EZ, and 1040PC (including electronic returns) filed by U.S. citizens and residents during Calendar Year 2000.

The sample design is a stratified probability sample, in which the population of tax returns is classified into subpopulations, called strata, and a sample is randomly selected independently from each stratum. Strata are defined by:

1. Nontaxable with adjusted gross income or expanded income of $200,000 or more and no alternative minimum tax.

2. High combined business and farm total receipts of $50,000,000 or more.

3. Presence or absence of special Forms or Schedules (Form 2555, Form 1116, Form 1040 Schedule C, and Form 1040 Schedule F).

4. Indexed positive or negative income. Sixty variables are used to derive positive and negative incomes. These positive and negative income classes are deflated using Chain-Type Price Index for the Gross Domestic Product to represent a base year of 1991.

5. Potential usefulness of the return for tax policy modeling. Thirty-two variables are used to determine how useful the return is for tax modeling purposes.

The Sales of Capital Assets Study is a sub-sample of the original sample. Records are selected for the sample and subsample either if they possess certain combinations of the four ending digits of the Social Security number, or if their ending five digits of an eleven-digit number generated by a mathematical transformation of the SSN are less than or equal to the stratum sample or subsampling rate times 100,000. The Tax Year 1999 estimates for the Sale of Capital Assets Study are based on a subsample of 121,053 returns randomly selected from an original sample of 176,966 returns and a final population of 127,321,626 returns. The original sample was used to produce the estimates in previously published SOI reports for Tax Year 1999, such as Statistics of Income–Individual Income Tax Returns 1999, Publication 1304.

Since the data represented here are estimates based on a sample of returns filed, they are subject to sampling error. To properly use the statistical data provide, the magnitude of the potential sampling error must be known; coefficients of variation (CV’s) are used to measure that magnitude. The reliability of estimates based on samples, and the coefficient of variation for evaluating the precision of estimates based on samples, are discussed in the appendix to this issue of the Bulletin.

Table 1a.–Short-Term and Long-Term Capital Gains and Losses,

by Asset Type, Tax Year 1999

[All figures are estimates based on samples–number of transactions

is in thousands, money amounts are in thousands of dollars]

All transactions

Asset type Number Sales Basis

price

(1) (2) (3)

Total 182,421 3,583,654,314 3,231,079,159

Corporate stock 105,518 2,019,200,873 1,794,694,899

U.S. Government obliga-

tions 1,607 135,930,419 135,829,578

State and local govern-

ment obligations 2,974 112,568,323 112,757,372

Other bonds, notes, and

debentures 829 32,111,387 31,962,420

Put and call options 6,627 42,703,919 40,659,299

Futures contracts 317 8,194,622 9,238,726

Mutual funds, except

tax-exempt bond funds 26,877 503,397,831 488,916,112

Tax-exempt bond mutual

funds 4,652 64,233,796 65,448,389

Partnership, S corpora-

tion, and estate or

trust interests 1,619 56,554,981 39,390,006

Livestock 824 3,261,695 1,058,277

Timber 102 2,733,222 752,919

Involuntary conversions 70 455,330 253,220

Residential rental

property 1,665 119,620,759 86,859,398

Depreciable business

personal property 1,320 9,288,394 6,179,244

Depreciable business

real property 737 51,161,238 33,810,136

Farmland 114 8,598,560 4,139,974

Otherland 1,089 42,873,291 27,167,562

Residences 290 35,236,863 29,485,418

Other assets (1) 2,874 292,904,899 283,986,401

Unidentifiable 639 42,623,911 38,489,812

Pass-through gains or

losses 4,566 N/A N/A

Capital gain distribu-

tions 17,111 N/A N/A

All Gain transactions

transactions

Asset type Net gain Number Sales

or loss price

(4) (5) (6)

Total 530,711,815 112,267 1,985,607,358

Corporate stock 225,103,845 63,283 1,309,464,974

U.S. Government obliga-

tions 42,704 509 41,402,846

State and local govern-

ment obligations -167,658 929 28,190,421

Other bonds, notes, and

debentures 163,654 247 7,573,618

Put and call options 2,513,113 3,816 28,051,010

Futures contracts -1,019,186 138 5,473,682

Mutual funds, except

tax-exempt bond funds 14,495,387 15,796 184,092,571

Tax-exempt bond mutual

funds -1,243,085 992 14,515,209

Partnership, S corpora-

tion, and estate or

trust interests 17,811,661 623 39,963,353

Livestock 1,686,419 432 2,566,476

Timber 1,963,250 91 2,540,118

Involuntary conversions 92,764 30 224,116

Residential rental

property 24,933,969 1,275 76,898,226

Depreciable business

personal property 1,057,443 309 4,110,699

Depreciable business

real property 15,485,675 565 38,973,052

Farmland 2,653,637 91 6,246,334

Otherland 12,999,021 872 29,974,858

Residences 3,708,591 142 14,436,906

Other assets (1) 8,821,787 1,639 119,009,536

Unidentifiable 4,586,825 380 31,899,352

Pass-through gains or

losses 134,027,743 2,996 N/A

Capital gain distribu-

tions 60,994,254 17,111 N/A

Gain transactions Loss

transactions

Asset type Basis Gain Number

(7) (8) (9)

Total 1,475,930,618 719,700,188 60,373

Corporate stock 970,085,974 340,923,364 39,343

U.S. Government obliga-

tions 40,708,258 697,815 490

State and local govern-

ment obligations 26,346,327 1,862,028 996

Other bonds, notes, and

debentures 6,434,667 1,180,466 314

Put and call options 14,195,380 14,004,009 2,730

Futures contracts 1,550,027 3,951,917 173

Mutual funds, except

tax-exempt bond funds 159,408,467 24,898,620 9,385

Tax-exempt bond mutual

funds 13,710,164 806,297 2,593

Partnership, S corpora-

tion, and estate or

trust interests 15,703,325 25,054,489 819

Livestock 388,822 1,958,463 182

Timber 567,639 1,972,479 5

Involuntary conversions 60,640 163,586 30

Residential rental

property 48,055,514 27,393,010 224

Depreciable business

personal property 1,944,058 1,742,766 313

Depreciable business

real property 21,623,144 16,734,652 101

Farmland 2,721,130 2,714,270 11

Otherland 15,063,228 14,640,539 123

Residences 10,265,627 4,932,450 36

Other assets (1) 100,329,835 19,766,533 762

Unidentifiable 26,768,391 5,888,130 213

Pass-through gains or

losses N/A 147,420,053 1,531

Capital gain distribu-

tions N/A 60,994,254 N/A

Loss transactions

Asset type Sales Basis Loss

price

(10) (11) (12)

Total 1,163,806,437 1,336,495,423 188,988,373

Corporate stock 582,588,418 697,662,780 115,819,518

U.S. Government obliga-

tions 30,897,556 31,593,129 655,110

State and local govern-

ment obligations 39,186,511 41,215,683 2,029,686

Other bonds, notes, and

debentures 8,335,808 9,350,488 1,016,812

Put and call options 12,193,687 23,996,363 11,490,896

Futures contracts 2,241,121 7,208,021 4,971,103

Mutual funds, except

tax-exempt bond funds 302,123,378 312,417,778 10,403,232

Tax-exempt bond mutual

funds 33,553,849 35,587,330 2,049,381

Partnership, S corpora-

tion, and estate or

trust interests 12,029,375 19,151,227 7,242,829

Livestock 253,786 524,500 272,043

Timber 38,758 47,987 9,229

Involuntary conversions 21,333 -12,191 70,823

Residential rental

property 17,153,075 19,610,936 2,459,041

Depreciable business

personal property 1,071,880 1,697,248 685,323

Depreciable business

real property 7,770,123 8,978,475 1,248,977

Farmland 724,379 789,456 60,633

Otherland 7,523,190 9,164,552 1,641,518

Residences 1,877,067 2,500,477 1,223,859

Other assets (1) 95,728,892 105,448,021 10,944,746

Unidentifiable 8,548,254 9,563,163 1,301,305

Pass-through gains or

losses N/A N/A 13,392,310

Capital gain distribu-

tions N/A N/A N/A

Transactions with no gain or loss

Asset type Number Sales Basis

price

(13) (14) (15)

Total 9,782 434,240,519 418,653,118

Corporate stock 2,892 127,147,481 126,946,144

U.S. Government obliga-

tions 608 63,630,017 63,528,191

State and local govern-

ment obligations 1,049 45,191,391 45,195,361

Other bonds, notes, and

debentures 268 16,201,961 16,177,265

Put and call options 81 2,459,222 2,467,556

Futures contracts 6 479,819 480,677

Mutual funds, except

tax-exempt bond funds 1,696 17,181,882 17,089,867

Tax-exempt bond mutual

funds 1,067 16,164,738 16,150,896

Partnership, S corpora-

tion, and estate or

trust interests 177 4,562,253 4,535,454

Livestock 210 441,433 144,955

Timber 7 154,346 137,292

Involuntary conversions 10 209,881 204,770

Residential rental

property 166 25,569,458 19,192,949

Depreciable business

personal property 698 4,159,815 2,537,938

Depreciable business

real property 72 4,418,063 3,208,516

Farmland 12 1,627,848 629,387

Otherland 94 5,375,243 2,939,782

Residences 111 18,922,891 16,719,314

Other assets (1) 473 78,166,471 78,208,545

Unidentifiable 46 2,176,306 2,158,258

Pass-through gains or

losses 38 N/A N/A

Capital gain distribu-

tions N/A N/A N/A

Footnotes at end of table 1c.

Table 1b.–Short-Term Capital Gains and Losses, by Asset Type,

Tax Year 1999

[All figures are estimates based on samples–number of transactions

is in thousands, money amounts are in thousands of dollars]

All transactions

Asset type Number Sales Basis

price

(1) (2) (3)

Total 96,226 2,457,854,859 2,431,702,226

Corporate stock 72,719 1,539,212,601 1,513,631,209

U.S. Government obliga-

tions 464 103,865,939 103,995,276

State and local govern-

ment obligations 401 36,884,512 37,632,155

Other bonds, notes, and

debentures 294 21,170,357 21,268,031

Put and call options 6,245 38,964,172 37,788,987

Futures contracts 271 6,209,110 7,338,633

Mutual funds, except

tax-exempt bond funds 10,919 360,305,346 358,664,927

Tax-exempt bond mutual

funds 1,245 28,037,438 28,429,566

Partnership, S corpora-

tion, and estate or

trust interests 449 8,906,937 10,311,187

Livestock 182 571,858 445,524

Timber 6 159,833 153,141

Involuntary conversions 18 27,054 -29,199

Residential rental

property 195 12,573,772 11,705,317

Depreciable business

personal property 171 1,732,848 1,549,458

Depreciable business

real property 56 6,441,429 6,094,164

Farmland 9 433,831 326,037

Otherland 65 2,889,353 1,619,773

Residences 22 2,683,840 2,882,544

Other assets (1) 1,108 254,874,196 256,387,054

Unidentifiable 361 31,910,432 31,508,443

Pass-through gains or

losses 1,024 N/A N/A

All Gain transactions

transactions

Asset type Net gain Number Sales

or loss price

(4) (5) (6)

Total 40,138,009 53,900 1,229,275,418

Corporate stock 27,226,746 42,011 928,302,535

U.S. Government obliga-

tions -187,352 107 28,200,867

State and local govern-

ment obligations -746,326 48 2,581,377

Other bonds, notes, and

debentures -104,799 94 4,182,537

Put and call options 1,641,903 3,499 25,469,792

Futures contracts -1,111,263 108 4,535,652

Mutual funds, except

tax-exempt bond funds 1,525,722 5,919 97,158,301

Tax-exempt bond mutual

funds -407,663 157 5,506,482

Partnership, S corpora-

tion, and estate or

trust interests -1,441,775 157 4,317,340

Livestock 126,205 85 448,906

Timber 6,406 3 57,785

Involuntary conversions -48,094 3 22,151

Residential rental

property 676,148 135 7,063,499

Depreciable business

personal property 179,740 74 868,984

Depreciable business

real property 340,912 37 3,031,960

Farmland 113,853 8 384,132

Otherland 280,565 51 1,370,793

Residences 31,042 6 279,613

Other assets (1) -1,607,035 599 92,605,546

Unidentifiable 374,953 212 22,887,167

Pass-through gains or

losses 13,268,124 586 N/A

Gain transactions Loss

transactions

Asset type Basis Gain Number

(7) (8) (9)

Total 1,095,558,410 155,977,938 38,495

Corporate stock 825,507,237 104,483,502 28,917

U.S. Government obliga-

tions 27,984,017 220,071 194

State and local govern-

ment obligations 2,527,475 54,012 236

Other bonds, notes, and

debentures 3,921,202 262,545 140

Put and call options 13,100,693 12,518,025 2,680

Futures contracts 851,420 3,697,569 158

Mutual funds, except

tax-exempt bond funds 91,885,747 5,296,904 4,070

Tax-exempt bond mutual

funds 5,441,439 65,482 727

Partnership, S corpora-

tion, and estate or

trust interests 3,361,016 911,999 255

Livestock 187,646 261,092 91

Timber 46,581 11,204 1

Involuntary conversions 691 21,460 15

Residential rental

property 6,111,843 947,710 38

Depreciable business

personal property 511,126 356,458 65

Depreciable business

real property 2,608,488 425,313 14

Farmland 254,563 129,569 1

Otherland 1,005,662 367,278 3

Residences 250,549 47,255 5

Other assets (1) 88,227,033 4,887,458 317

Unidentifiable 21,773,982 1,238,955 134

Pass-through gains or

losses N/A 19,774,078 434

Loss transactions

Asset type Sales Basis Loss

price

(10) (11) (12)

Total 936,472,045 1,045,068,228 115,839,929

Corporate stock 509,874,556 586,946,973 77,256,755

U.S. Government obliga-

tions 22,202,500 22,650,385 407,423

State and local govern-

ment obligations 15,518,453 16,318,406 800,338

Other bonds, notes, and

debentures 4,088,773 4,454,394 367,345

Put and call options 11,358,945 22,546,293 10,876,122

Futures contracts 1,219,259 6,032,156 4,808,832

Mutual funds, except

tax-exempt bond funds 251,077,111 254,771,280 3,771,182

Tax-exempt bond mutual

funds 12,620,388 13,077,630 473,145

Partnership, S corpora-

tion, and estate or

trust interests 3,854,818 6,230,845 2,353,774

Livestock 118,509 253,434 134,887

Timber 23,128 27,925 4,798

Involuntary conversions 235 -34,558 69,554

Residential rental

property 3,568,529 3,840,088 271,562

Depreciable business

personal property 463,882 640,600 176,718

Depreciable business

real property 3,130,911 3,215,715 84,401

Farmland 47,098 68,873 15,717

Otherland 117,083 203,796 86,714

Residences 619,723 635,436 16,213

Other assets (1) 89,207,791 95,111,223 6,494,493

Unidentifiable 7,360,354 8,077,333 864,002

Pass-through gains or

losses N/A N/A 6,505,954

Transactions with no gain or loss

Asset type Number Sales Basis

price

(13) (14) (15)

Total 3,831 292,107,396 291,075,587

Corporate stock 1,791 101,035,511 101,177,000

U.S. Government obliga-

tions 163 53,462,572 53,360,874

State and local govern-

ment obligations 117 18,784,682 18,786,274

Other bonds, notes, and

debentures 60 12,899,047 12,892,434

Put and call options 66 2,135,436 2,142,001

Futures contracts 5 454,199 455,057

Mutual funds, except

tax-exempt bond funds 930 12,069,935 12,007,901

Tax-exempt bond mutual

funds 361 9,910,568 9,910,498

Partnership, S corpora-

tion, and estate or

trust interests 37 734,778 719,325

Livestock 6 4,443 4,443

Timber 2 78,921 78,635

Involuntary conversions * (2) * 4,667 * 4,667

Residential rental

property 22 1,941,744 1,753,386

Depreciable business

personal property 31 399,982 397,731

Depreciable business

real property 5 278,559 269,961

Farmland * (2) * 2,600 * 2,600

Otherland 11 1,401,477 410,315

Residences 12 1,784,504 1,996,559

Other assets (1) 192 73,060,859 73,048,798

Unidentifiable 15 1,662,911 1,657,128

Pass-through gains or

losses 4 N/A N/A

Footnotes at end of table 1c.

Table 1c.–Long-Term Capital Gains and Losses, by Asset Type,

Tax Year 1999

[All figures are estimates based on samples–number of transactions

is in thousands, money amounts are in thousands of dollars]

All transactions

Asset type Number Sales Basis

price

(1) (2) (3)

Total 86,196 1,125,799,455 799,376,934

Corporate stock 32,799 479,988,271 281,063,690

U.S. Government obliga-

tions 1,143 32,064,480 31,834,301

State and local govern-

ment obligations 2,573 75,683,811 75,125,217

Other bonds, notes, and

debentures 535 10,941,030 10,694,389

Put and call options 382 3,739,747 2,870,313

Futures contracts 45 1,985,512 1,900,093

Mutual funds, except

tax-exempt bond funds 15,958 143,092,484 130,251,185

Tax-exempt bond mutual

funds 3,407 36,196,357 37,018,823

Partnership, S corpora-

tion, and estate or

trust interests 1,170 47,648,044 29,078,819

Livestock 642 2,689,837 612,753

Timber 96 2,573,389 599,777

Involuntary conversions 51 428,277 282,419

Residential rental

property 1,470 107,046,987 75,154,081

Depreciable business

personal property 1,149 7,555,546 4,629,786

Depreciable business

real property 681 44,719,809 27,715,972

Farmland 104 8,164,730 3,813,937

Otherland 1,024 39,983,938 25,547,789

Residences 267 32,553,024 26,602,874

Other assets (1) 1,766 38,030,702 27,599,346

Unidentifiable 278 10,713,479 6,981,369

Pass-through gains or

losses 3,542 N/A N/A

Capital gain distribu-

tions 17,111 N/A N/A

All Gain transactions

transactions

Asset type Net gain Number Sales

or loss price

(4) (5) (6)

Total 490,573,806 58,367 756,331,940

Corporate stock 197,877,099 21,272 381,162,438

U.S. Government obliga-

tions 230,056 402 13,201,979

State and local govern-

ment obligations 578,669 881 25,609,044

Other bonds, notes, and

debentures 268,453 153 3,391,081

Put and call options 871,210 317 2,581,218

Futures contracts 92,077 30 938,031

Mutual funds, except

tax-exempt bond funds 12,969,666 9,876 86,934,270

Tax-exempt bond mutual

funds -835,422 836 9,008,727

Partnership, S corpora-

tion, and estate or

trust interests 19,253,436 466 35,646,013

Livestock 1,560,215 347 2,117,571

Timber 1,956,844 88 2,482,333

Involuntary conversions 140,858 27 201,965

Residential rental

property 24,257,822 1,140 69,834,728

Depreciable business

personal property 877,703 235 3,241,715

Depreciable business

real property 15,144,763 528 35,941,093

Farmland 2,539,784 82 5,862,202

Otherland 12,718,457 821 28,604,065

Residences 3,677,549 137 14,157,293

Other assets (1) 10,428,822 1,040 26,403,990

Unidentifiable 4,211,872 169 9,012,185

Pass-through gains or

losses 120,759,619 2,410 N/A

Capital gain distribu-

tions 60,994,254 17,111 N/A

Gain Loss transactions

transactions

Asset type Basis Gain Number

(7) (8) (9)

Total 380,372,208 563,722,250 21,878

Corporate stock 144,578,738 236,439,862 10,426

U.S. Government obliga-

tions 12,724,241 477,744 296

State and local govern-

ment obligations 23,818,853 1,808,016 759

Other bonds, notes, and

debentures 2,513,465 917,920 175

Put and call options 1,094,687 1,485,984 50

Futures contracts 698,607 254,347 14

Mutual funds, except

tax-exempt bond funds 67,522,720 19,601,716 5,316

Tax-exempt bond mutual

funds 8,268,725 740,815 1,866

Partnership, S corpora-

tion, and estate or

trust interests 12,342,309 24,142,490 564

Livestock 201,176 1,697,371 91

Timber 521,059 1,961,275 4

Involuntary conversions 59,949 142,127 15

Residential rental

property 41,943,671 26,445,300 186

Depreciable business

personal property 1,432,932 1,386,308 248

Depreciable business

real property 19,014,656 16,309,339 87

Farmland 2,466,567 2,584,701 10

Otherland 14,057,566 14,273,261 120

Residences 10,015,078 4,885,195 31

Other assets (1) 12,102,802 14,879,075 446

Unidentifiable 4,994,409 4,649,175 78

Pass-through gains or

losses N/A 127,645,975 1,098

Capital gain distribu-

tions N/A 60,994,254 N/A

Loss transactions

Asset type Sales Basis Loss

price

(10) (11) (12)

Total 227,334,393 291,427,194 73,148,445

Corporate stock 72,713,862 110,715,807 38,562,763

U.S. Government obliga-

tions 8,695,056 8,942,744 247,687

State and local govern-

ment obligations 23,668,058 24,897,277 1,229,347

Other bonds, notes, and

debentures 4,247,036 4,896,093 649,467

Put and call options 834,742 1,450,070 614,774

Futures contracts 1,021,862 1,175,866 162,271

Mutual funds, except

tax-exempt bond funds 51,046,267 57,646,499 6,632,050

Tax-exempt bond mutual

funds 20,933,461 22,509,700 1,576,236

Partnership, S corpora-

tion, and estate or

trust interests 8,174,556 12,920,381 4,889,055

Livestock 135,277 271,066 137,156

Timber 15,631 20,062 4,431

Involuntary conversions 21,098 22,367 1,269

Residential rental

property 13,584,546 15,770,848 2,187,479

Depreciable business

personal property 553,998 1,056,648 508,604

Depreciable business

real property 4,639,212 5,762,761 1,164,576

Farmland 677,281 720,583 44,916

Otherland 7,406,107 8,960,755 1,554,805

Residences 1,257,344 1,865,041 1,207,646

Other assets (1) 6,521,101 10,336,798 4,450,253

Unidentifiable 1,187,900 1,485,830 437,303

Pass-through gains or

losses N/A N/A 6,886,356

Capital gain distribu-

tions N/A N/A N/A

Transactions with no gain or loss

Asset type Number Sales Basis

price

(13) (14) (15)

Total 5,951 142,133,122 127,577,531

Corporate stock 1,101 26,111,970 25,769,145

U.S. Government obliga-

tions 445 10,167,444 10,167,317

State and local govern-

ment obligations 933 26,406,709 26,409,087

Other bonds, notes, and

debentures 208 3,302,914 3,284,831

Put and call options 14 323,787 325,556

Futures contracts 2 25,620 25,620

Mutual funds, except

tax-exempt bond funds 766 5,111,947 5,081,966

Tax-exempt bond mutual

funds 705 6,254,170 6,240,398

Partnership, S corpora-

tion, and estate or

trust interests 140 3,827,475 3,816,128

Livestock 204 436,990 140,512

Timber 4 75,426 58,657

Involuntary conversions 10 205,214 200,103

Residential rental

property 144 23,627,714 17,439,562

Depreciable business

personal property 667 3,759,834 2,140,207

Depreciable business

real property 66 4,139,504 2,938,555

Farmland 12 1,625,248 626,787

Otherland 84 3,973,766 2,529,468

Residences 100 17,138,386 14,722,755

Other assets (1) 281 5,105,612 5,159,747

Unidentifiable 31 513,395 501,130

Pass-through gains or

losses 34 N/A N/A

Capital gain distribu-

tions N/A N/A N/A

* Estimate should be used with caution because of small number of sample

returns on which it is based.

N/A–Not applicable.

(1) Other asset types include all other asset categories not included

in the above categories, including put and call options; futures

contracts; all mutual funds; partnership, S corporation, and estate

or trust interests; pass-through gains or losses, livestock; timber;

involuntary conversions; depreciable business personal property;

residences; unidentifiable assets; and capital gain distributions.

(2) Less than 500.

NOTES. Detail may not add to totals because of rounding. Sales price

minus basis does not always equal gain or loss because. (a) only the

gain is reported for capital gain distributions from mutual funds and

pass-through gains or losses, (b) part of the total gain or loss on

certain depreciable assets is treated as ordinary income rather than

capital gain or loss; and (c) sales price and basis often reported as

negative for futures contracts and put and call options when a loss

occurred. Comparisons across tables may differ because of misreponing

of holding periods and the varying methodologies in classifying these.

Table 2a.–Returns with Short-Term and Long-Term Capital Gains and

Losses: All Asset Types, by Size of Adjusted Gross Income,

Tax Year 1999

[All figures are estimates based on samples–money amounts are in

thousands of dollars]

Returns with short-term capital

gain or loss

Size of adjusted gross Returns with short-term

income gain transactions (1)

Number

of Number of Number of

returns returns transactions

(1) (2) (3)

All asset

types

All returns 11,063,066 8,779,582 57,731,133

Adjusted gross deficit 178,651 124,492 1,068,461

Under $20,000 1,539,284 1,161,875 4,709,511

$20,000 under $50,000 2,336,603 1,827,043 9,270,709

$50,000 under $100,000 3,355,877 2,618,745 12,728,832

$100,000 under $200,000 2,228,624 1,834,368 12,297,879

$200,000 under $500,000 1,009,095 853,637 10,176,722

$500,000 under $1,000,000 246,958 210,994 3,611,820

$1,000,000 or more 167,975 148,428 3,867,199

Returns with short-term capital

gain or loss

Size of adjusted gross Returns with Returns with short-term

income short-term loss transactions

gain tran-

sactions (1)

Gain Number of Number of

returns transactions

(4) (5) (6)

All asset

types

All returns 155,977,938 6,630,549 38,494,543

Adjusted gross deficit 4,408,774 126,595 797,573

Under $20,000 4,064,206 817,129 3,260,705

$20,000 under $50,000 8,813,846 1,286,501 5,746,803

$50,000 under $100,000 15,676,400 1,967,826 8,574,186

$100,000 under $200,000 22,905,082 1,398,534 7,782,225

$200,000 under $500,000 32,707,076 704,216 6,764,549

$500,000 under $1,000,000 15,903,691 192,405 2,623,358

$1,000,000 or more 51,498,862 137,343 2,945,144

Returns with Returns with

short-term long-term

capital capital

gain or loss gain or loss

Size of adjusted gross Returns with Returns with

income short-term long-term

loss tran- gain tran-

sactions sactions (1)

Number

of Number of

Loss returns returns

(7) (8) (9)

All asset

types

All returns 115,839,929 25,643,866 24,165,525

Adjusted gross deficit 5,643,222 325,664 256,749

Under $20,000 4,295,733 5,322,345 5,034,293

$20,000 under $50,000 7,385,912 6,245,908 5,832,112

$50,000 under $100,000 12,659,958 7,739,026 7,298,365

$100,000 under $200,000 16,239,180 4,051,043 3,851,817

$200,000 under $500,000 22,645,539 1,455,882 1,402,142

$500,000 under $1,000,000 11,011,300 309,566 300,106

$1,000,000 or more 35,959,084 194,432 189,941

Returns with long-term

capital gain or loss

Size of adjusted gross Returns with long-term Returns with

income loss transactions (1) long-term

loss tran-

sactions

Number of Number of

transactions Gain returns

(10) (11) (12)

All asset

types

All returns 64,317,636 563,722,250 7,895,295

Adjusted gross deficit 613,426 8,554,337 161,839

Under $20,000 8,647,447 12,803,453 1,146,648

$20,000 under $50,000 12,658,618 25,438,311 1,654,818

$50,000 under $100,000 17,439,186 54,972,806 2,332,157

$100,000 under $200,000 12,761,990 69,299,215 1,563,197

$200,000 under $500,000 7,144,521 76,842,566 718,889

$500,000 under $1,000,000 2,626,527 49,655,308 187,848

$1,000,000 or more 2,425,922 266,156,255 129,899

Returns with long-term

capital gain or loss

Size of adjusted gross Returns with long-term

income loss transactions

Number of

transactions Loss

(13) (14)

All asset

types

All returns 21,878,012 73,148,445

Adjusted gross deficit 355,355 4,537,268

Under $20,000 2,392,407 5,246,484

$20,000 under $50,000 4,462,021 7,352,784

$50,000 under $100,000 5,371,282 12,583,925

$100,000 under $200,000 4,260,758 11,511,732

$200,000 under $500,000 2,802,623 11,392,203

$500,000 under $1,000,000 1,109,342 5,953,430

$1,000,000 or more 1,124,223 14,570,620

Footnotes at end of table 2e.

Table 2b.–Returns with Short-Term and Long-Term Capital Gains and

Losses: Corporate Stock, by Size of Adjusted Gross Income,

Tax Year 1999

[All figures are estimates based on samples–money amounts are in

thousands of dollars]

Returns with short-term capital

gain or loss

Size of adjusted gross Returns with short-term

income gain transactions (1)

Number

of Number of Number of

returns returns transactions

(1) (2) (3)

Corporate

stock

All returns 7,128,923 5,849,968 43,802,073

Adjusted gross deficit 98,205 74,701 849,654

Under $20,000 744,112 603,981 2,823,876

$20,000 under $50,000 1,427,489 1,147,848 6,933,820

$50,000 under $100,000 2,239,990 1,813,571 9,561,703

$100,000 under $200,000 1,549,690 1,295,276 9,122,554

$200,000 under $500,000 750,144 638,210 8,457,213

$500,000 under $1,000,000 189,299 162,593 2,955,655

$1,000,000 or more 129,994 113,786 3,097,597

Returns with short-term capital

gain or loss

Size of adjusted gross Returns with Returns with short-term

income short-term loss transactions

gain tran-

sactions (1)

Gain Number of Number of

returns transactions

(4) (5) (6)

Corporate

stock

All returns 104,483,502 4,381,382 28,917,237

Adjusted gross deficit 2,376,749 75,257 611,152

Under $20,000 2,643,954 400,135 1,935,599

$20,000 under $50,000 6,855,583 805,350 4,187,093

$50,000 under $100,000 11,573,129 1,334,008 6,257,494

$100,000 under $200,000 16,683,289 984,005 5,709,396

$200,000 under $500,000 25,628,366 529,502 5,665,721

$500,000 under $1,000,000 11,730,224 147,298 2,147,719

$1,000,000 or more 26,992,208 105,826 2,403,063

Returns with Returns with

short-term long-term

capital capital

gain or loss gain or loss

Size of adjusted gross Returns with Returns with

income short-term long-term

loss tran- gain tran-

sactions sactions (1)

Number

of Number of

Loss returns returns

(7) (8) (9)

Corporate

stock

All returns 77,256,755 8,771,078 7,142,641

Adjusted gross deficit 2,459,324 84,713 47,857

Under $20,000 2,598,030 1,127,067 898,903

$20,000 under $50,000 5,746,270 1,810,648 1,455,035

$50,000 under $100,000 8,870,196 2,770,079 2,243,910

$100,000 under $200,000 11,182,289 1,828,798 1,495,768

$200,000 under $500,000 17,744,048 817,325 696,063

$500,000 under $1,000,000 7,219,261 197,720 179,892

$1,000,000 or more 21,437,335 134,728 123,193

Returns with long-term

capital gain or loss

Size of adjusted gross Returns with long-term Returns with

income loss transactions (1) long-term

loss tran-

sactions

Number of Number of

transactions Gain returns

(10) (11) (12)

Corporate

stock

All returns 22,373,162 236,439,862 4,034,224

Adjusted gross deficit 146,208 1,833,443 57,577

Under $20,000 1,602,375 2,439,891 443,870

$20,000 under $50,000 3,408,574 6,252,384 736,191

$50,000 under $100,000 5,774,352 17,030,547 1,237,031

$100,000 under $200,000 4,803,778 23,951,306 913,703

$200,000 under $500,000 3,505,666 31,988,199 441,171

$500,000 under $1,000,000 1,563,773 22,654,242 120,301

$1,000,000 or more 1,568,438 130,289,850 84,380

Returns with long-term

capital gain or loss

Size of adjusted gross Returns with long-term

income loss transactions

Number of

transactions Loss

(13) (14)

Corporate

stock

All returns 10,425,608 38,562,763

Adjusted gross deficit 138,374 1,196,424

Under $20,000 924,148 2,073,948

$20,000 under $50,000 1,512,058 3,492,999

$50,000 under $100,000 2,731,535 6,191,832

$100,000 under $200,000 2,263,019 6,802,481

$200,000 under $500,000 1,474,224 7,081,504

$500,000 under $1,000,000 668,529 3,766,096

$1,000,000 or more 713,721 7,957,479

Footnotes at end of table 2e.

Table 2c.–Returns with Short-Term and Long-Term Capital Gains and

Losses: Bonds and Other Securities, by Size of Adjusted Gross Income,

Tax Year 1999

[All figures are estimates based on samples–money amounts are in

thousands of dollars]

Returns with short-term capital

gain or loss

Size of adjusted gross Returns with short-term

income gain transactions (1)

Number

of Number of Number of

returns returns transactions

(1) (2) (3)

Bonds and other

securities

(2)

All returns 477,936 269,453 589,974

Adjusted gross deficit 3,034 2,285 7,270

Under $20,000 61,378 35,042 46,700

$20,000 under $50,000 93,655 45,685 81,574

$50,000 under $100,000 111,332 61,523 95,605

$100,000 under $200,000 85,712 53,923 102,736

$200,000 under $500,000 63,825 35,450 111,785

$500,000 under $1,000,000 26,208 15,558 50,258

$1,000,000 or more 32,792 19,988 94,046

Returns with short-term capital

gain or loss

Size of adjusted gross Returns with Returns with short-term

income short-term loss transactions

gain tran-

sactions (1)

Gain Number of Number of

returns transactions

(4) (5) (6)

Bonds and other

securities

(2)

All returns 536,628 267,962 569,536

Adjusted gross deficit 16,412 1,189 3,795

Under $20,000 10,357 27,088 46,752

$20,000 under $50,000 15,995 54,038 94,949

$50,000 under $100,000 17,296 67,359 95,529

$100,000 under $200,000 25,930 46,193 85,622

$200,000 under $500,000 192,881 36,474 103,153

$500,000 under $1,000,000 45,977 15,694 46,816

$1,000,000 or more 211,781 19,928 92,921

Returns with Returns with

short-term long-term

capital capital

gain or loss gain or loss

Size of adjusted gross Returns with Returns with

income short-term long-term

loss tran- gain tran-

sactions sactions (1)

Number

of Number of

Loss returns returns

(7) (8) (9)

Bonds and other

securities

(2)

All returns 1,575,106 1,813,545 1,449,026

Adjusted gross deficit 51,444 14,852 11,411

Under $20,000 36,589 237,521 203,049

$20,000 under $50,000 86,223 388,247 307,165

$50,000 under $100,000 135,882 468,824 361,188

$100,000 under $200,000 82,063 363,439 280,352

$200,000 under $500,000 311,499 214,833 182,412

$500,000 under $1,000,000 149,130 70,666 58,469

$1,000,000 or more 722,277 55,162 44,979

Returns with long-term

capital gain or loss

Size of adjusted gross Returns with long-term Returns with

income loss transactions (1) long-term

loss tran-

sactions

Number of Number of

transactions Gain returns

(10) (11) (12)

Bonds and other

securities

(2)

All returns 3,021,341 3,203,650 631,030

Adjusted gross deficit 19,201 51,511 5,219

Under $20,000 302,148 101,996 48,217

$20,000 under $50,000 599,882 195,787 138,064

$50,000 under $100,000 676,458 357,255 175,363

$100,000 under $200,000 593,151 363,729 137,320

$200,000 under $500,000 471,285 629,478 73,210

$500,000 under $1,000,000 162,950 352,798 28,279

$1,000,000 or more 176,267 1,151,126 25,358

Returns with long-term

capital gain or loss

Size of adjusted gross Returns with long-term

income loss transactions

Number of

transactions Loss

(13) (14)

Bonds and other

securities

(2)

All returns 1,229,776 2,126,502

Adjusted gross deficit 9,715 35,362

Under $20,000 67,742 62,584

$20,000 under $50,000 224,063 198,035

$50,000 under $100,000 306,194 476,957

$100,000 under $200,000 268,433 262,165

$200,000 under $500,000 160,727 296,948

$500,000 under $1,000,000 76,958 295,226

$1,000,000 or more 95,945 499,226

Footnotes at end of table 2e.

Table 2d.–Returns with Short-Term and Long-Term Capital Gains and

Losses: Real Estate, by Size of Adjusted Gross Income, Tax Year 1999

[All figures are estimates based on samples–money amounts are in

thousands of dollars]

Returns with short-term capital gain or loss

Returns with short-term gain

transactions (1)

Number

Size of adjusted of Number of Number of

gross income returns returns transactions Gain

(1) (2) (3) (4)

Real estate (3)

All returns 250,067 200,295 269,380 1,869,870

Adjusted gross

deficit 6,584 5,845 6,977 81,257

Under $20,000 22,462 17,020 21,875 71,126

$20,000 under

$50,000 66,945 56,439 72,005 175,854

$50,OOO under

$100,000 89,400 66,699 85,706 552,746

$100,000 under

$200,000 39,815 34,389 53,100 382,477

$200,000 under

$500,000 15,375 11,951 17,097 310,349

$500,000 under

$1,000,000 5,492 4,792 8,655 108,042

$1,000,000 or more 3,995 3,161 3,965 188,019

Returns with long-term capital gain or loss

Returns with long-term gain

transactions (1)

Number

Size of adjusted of Number of Number of

gross income returns returns transactions Gain

(8) (9) (10) (11)

Real estate (3)

All returns 2,520,915 2,205,219 2,877,147 59,612,601

Adjusted gross

deficit 55,812 40,417 54,559 1,403,767

Under $20,000 319,093 264,058 301,789 1,259,372

$20,OOO under

$50,000 599,631 516,023 629,010 4,425,064

$50,000 under

$100,000 764,764 661,907 925,872 10,078,968

$100,000 under

$200,000 481,090 447,898 577,863 13,938,595

$200,000 under

$500,000 220,270 203,097 278,271 13,763,934

$500,000 under

$1,000,000 46,744 41,379 62,934 5,694,592

$1,000,000 or more 33,512 30,441 46,850 9,048,308

Returns with short-term gain or loss

Returns with short-term loss

transactions

Size of adjusted Number of Number of

gross income returns transactions Loss

(5) (6) (7)

Real estate (3)

All returns 52,216 56,086 458,394

Adjusted gross

deficit 838 963 93,475

Under $20,000 * 5,467 * 5,467 * 29,155

$20,000 under

$50,000 * 10,948 * 11,389 * 65,478

$50,OOO under

$100,000 22,911 22,911 121,318

$100,000 under

$200,000 6,774 9,878 88,018

$200,000 under

$500,000 3,543 3,547 23,537

$500,000 under

$1,000,000 849 967 14,713

$1,000,000 or more 888 964 22,698

Returns with long-term gain or loss

Returns with long-term loss

transactions

Size of adjusted Number of Number of

gross income returns transactions Loss

(12) (13) (14)

Real estate (3)

All returns 366,946 402,231 4,951,775

Adjusted gross

deficit 17,166 18,549 813,685

Under $20,000 60,991 61,029 697,716

$20,OOO under

$50,000 90,902 101,377 784,167

$50,000 under

$100,000 114,929 122,836 1,080,094

$100,000 under

$200,000 50,126 61,571 698,058

$200,000 under

$500,000 21,896 24,510 441,210

$500,000 under

$1,000,000 6,580 7,527 200,874

$1,000,000 or more 4,355 4,833 235,972

Footnotes at end of table 2e.

Table 2e.–Returns with Short-Term and Long-Term Capital Gains and

Losses: Other Asset Types, by Size of Adjusted Gross Income, Tax Year

1999

[All figures are estimates based on samples–money amounts are in

thousands of dollars]

Returns with short-term capital gain or loss

Returns with short-term gain

transactions (1)

Number

Size of adjusted of Number of Number of

gross income returns returns transactions Gain

(1) (2) (3) (4)

Other asset

types (4)

All returns 6,481,140 4,390,229 13,069,683 49,087,937

Adjusted gross

deficit 126,302 73,708 204,560 1,934,356

Under $20,000 948,511 648,226 1,817,059 1,338,768

$20,000 under

$50,000 1,233,711 826,724 2,183,310 1,766,414

$50,OOO under

$100,000 1,695,467 1,135,404 2,985,817 3,533,229

$100,000 under

$200,000 1,328,417 929,266 3,019,490 5,813,386

$200,000 under

$500,000 708,994 486,577 1,590,627 6,575,480

$500,000 under

$1,000,000 229,124 151,846 597,228 4,019,449

$1,000,000 or

more 208,613 138,478 671,591 24,106,855

Returns with long-term capital gain or loss

Returns with long-term gain

transactions (1)

Number

Size of adjusted of Number of Number of

gross income returns returns transactions Gain

(8) (9) (10) (11)

Other asset

types (4)

All returns 28,825,785 25,896,187 36,045,986 264,466,107

Adjusted gross

deficit 341,266 265,643 393,459 5,265,615

Under $20,000 5,683,735 5,182,507 6,441,135 9,002,194

$20,OOO under

$50,000 6,504,495 5,860,170 8,021,152 14,565,076

$50,000 under

$100,000 8,426,187 7,618,176 10,062,504 27,506,035

$100,000 under

$200,000 4,959,787 4,444,121 6,787,198 31,045,584

$200,000 under

$500,000 2,033,010 1,774,180 2,889,299 30,460,955

$500,000 under

$1,000,000 511,972 437,529 816,870 20,953,676

$1,000,000 or

more 365,334 313,860 634,368 125,666,971

Returns with short-term capital gain

or loss

Returns with short-term loss

transactions

Size of adjusted Number of Number of

gross income returns transactions Loss

(5) (6) (7)

Other asset

types (4)

All returns 3,389,017 8,951,684 36,549,674

Adjusted gross

deficit 77,046 181,664 3,038,960

Under $20,000 473,986 1,272,887 1,631,959

$20,000 under

$50,000 627,922 1,453,373 1,487,940

$50,OOO under

$100,000 874,301 2,198,251 3,532,561

$100,000 under

$200,000 694,779 1,977,329 4,886,810

$200,000 under

$500,000 393,616 992,129 4,566,455

$500,000 under

$1,000,000 131,585 427,856 3,628,195

$1,000,000 or

more 115,784 448,196 13,776,774

Returns with long-term capital gain

or loss

Returns with long-term loss

transactions

Size of adjusted Number of Number of

gross income returns transactions Loss

(12) (13) (14)

Other asset

types (4)

All returns 4,906,442 9,820,397 27,507,405

Adjusted gross

deficit 111,740 188,717 2,491,797

Under $20,000 746,465 1,339,489 2,412,236

$20,OOO under

$50,000 1,017,903 2,624,522 2,877,583

$50,000 under

$100,000 1,363,080 2,210,717 4,835,042

$100,000 under

$200,000 937,289 1,667,735 3,749,027

$200,000 under

$500,000 468,488 1,123,163 3,572,541

$500,000 under

$1,000,000 143,959 356,328 1,691,234

$1,000,000 or

more 117,519 309,725 5,877,943

* Estimate should be used with caution because of small number of

sample returns on which it is based.

(1) Transactions with no gain or loss are included with gain

transactions.

(2) Bonds and other securities includes U.S. Government obligations,

State and local government obligations, and other bonds, notes and

debentures.

(3) Real estate includes residential rental property, depreciable

business real property, farmland, and other land.

(4) Other asset types include all other asset categories not included

in the above categories, including put and call options; futures

contracts; all mutual funds; partnership, S corporation, and estate

or trust interests; pass-through gains or losses; livestock; timber;

involuntary conversions; depreciable business personal property;

residences; unidentifiable assets; and capital gain distributions.

NOTE: Number of returns with gain, plus number of returns with loss,

does not add to the total column because some returns showed both.

Detail may not add to totals because of rounding. Comparisons across

tables may differ because of misreporting of holding periods and the

varying methodologies in classifying these.

Table 3a.–Short-Term and Long-Term Capital Asset Transactions: All

Asset Types, by Month of Sale, Tax Year 1999

[All figures are estimates based on samples–number of transactions is

in thousands, money amounts are in thousands of dollars]

All asset types

Gain transactions (1)

Type of transaction, Number of Sales

month of sale transactions price Basis

(1) (2) (3)

Short-term

transactions

Total 57,731 1,521,382,814 1,386,633,997

January 4,449 85,620,728 73,701,267

February 2,970 56,692,943 51,078,353

March 3,924 76,423,301 68,135,377

April 5,027 92,790,200 79,826,284

May 3,903 65,513,883 58,444,798

June 3,604 59,885,594 53,458,138

July 4,074 66,045,741 58,201,304

August 3,303 56,621,666 50,425,645

September 2,944 48,834,380 43,514,130

October 3,465 65,805,876 58,885,216

November 5,335 95,921,837 82,710,643

December 5,796 143,443,132 128,772,412

Month not determinable 8,937 607,783,534 579,480,429

Long-term transactions

Total 64,318 898,465,062 507,949,739

January 3,020 61,446,128 33,371,817

February 2,461 45,217,566 26,272,204

March 2,763 55,579,080 31,921,637

April 2,920 58,980,373 32,694,175

May 2,463 41,557,245 23,380,495

June 2,925 55,413,907 32,271,539

July 2,650 56,741,234 35,304,762

August 2,546 46,277,685 26,600,192

September 2,204 44,039,156 24,670,725

October 2,207 48,784,725 27,749,642

November 2,283 48,465,704 24,842,802

December 3,189 65,918,214 37,604,266

Month not determinable 32,688 270,044,045 151,265,484

All asset types

Gain

transac-

tions (1) Loss transactions

Type of transaction, Number of Sales

month of sale Gain transactions price

(4) (5) (6)

Short-term

transactions

Total 155,977,938 38,495 936,472,045

January 11,892,492 2,182 34,196,706

February 5,679,424 2,123 31,807,780

March 8,327,838 2,571 33,427,997

April 12,959,601 2,960 38,721,705

May 7,162,376 2,279 34,576,683

June 6,381,784 2,204 32,478,563

July 7,876,230 2,204 30,712,987

August 6,087,127 2,571 38,690,820

September 5,421,823 2,589 31,081,148

October 6,799,809 2,888 34,141,757

November 12,128,291 3,315 42,498,382

December 14,537,516 5,360 120,674,613

Month not determinable 50,723,626 5,247 433,462,903

Long-term transactions

Total 563,722,250 21,878 227,334,393

January 26,761,126 936 10,332,370

February 18,457,157 893 8,723,687

March 21,279,791 1,352 9,995,186

April 25,526,628 1,110 9,863,742

May 17,381,398 887 9,761,023

June 21,773,955 1,336 14,609,228

July 19,290,252 1,025 13,303,774

August 18,247,099 1,122 14,254,003

September 17,570,846 1,130 10,820,066

October 19,207,005 1,265 15,462,638

November 22,643,749 1,635 14,160,777

December 25,315,877 4,048 33,182,235

Month not determinable 310,267,368 5,137 62,865,664

All asset types

Loss transactions

Type of transaction,

month of sale Basis Loss

(7) (8)

Short-term

transactions

Total 1,045,068,228 115,839,929

January 39,922,211 5,493,264

February 35,890,583 4,044,825

March 38,704,606 5,262,452

April 44,608,469 5,968,947

May 39,030,957 4,419,102

June 37,600,118 5,084,978

July 34,872,881 4,129,914

August 46,360,839 7,670,725

September 37,433,418 6,349,864

October 40,606,179 6,448,090

November 50,040,743 7,500,216

December 138,800,148 18,081,492

Month not determinable 461,197,077 35,386,059

Long-term transactions

Total 291,427,194 73,148,445

January 13,186,644 2,861,316

February 10,843,664 2,127,485

March 12,775,800 2,783,758

April 12,765,434 2,902,926

May 11,897,105 2,139,499

June 17,659,132 3,133,321

July 16,003,404 2,700,962

August 17,009,759 2,764,213

September 13,421,400 2,607,546

October 19,549,025 4,098,741

November 18,910,084 4,754,831

December 48,987,128 15,856,369

Month not determinable 78,418,616 24,417,479

Footnotes at end of table 3e

Table 3b.–Short-Term and Long-Term Capital Asset Transactions:

Corporate Stock, by Month of Sale, Tax Year 1999

[All figures are estimates based on samples–number of transactions is

in thousands, money amounts are in thousands of dollars]

Corporate stock

Gain transactions (1)

Type of transaction, Number of Sales

month of sale transactions price Basis

(1) (2) (3)

Short-term

transactions

Total 43,802 1,029,338,046 926,684,236

January 3,629 61,344,748 52,243,364

February 2,294 41,225,114 36,502,519

March 3,243 54,927,109 47,634,305

April 4,216 71,927,812 60,837,102

May 3,219 49,994,966 43,864,457

June 2,949 45,287,974 39,962,462

July 3,321 51,855,828 45,179,762

August 2,722 41,418,779 36,263,859

September 2,314 36,914,317 32,449,807

October 2,900 51,982,044 46,206,775

November 4,684 76,463,928 65,759,497

December 4,889 106,480,364 94,275,212

Month not determinable 3,422 339,515,063 325,505,115

Long-term transactions

Total 22,373 407,274,409 170,347,882

January 1,682 29,002,917 11,617,389

February 1,181 18,903,225 7,661,078

March 1,533 23,385,626 9,886,389

April 1,690 31,284,449 13,372,198

May 1,397 18,547,357 7,522,491

June 1,562 24,380,740 10,413,346

July 1,327 20,358,909 8,725,211

August 1,348 17,448,168 7,277,993

September 1,218 18,375,811 7,635,251

October 1,283 21,464,666 8,228,469

November 1,368 25,308,367 8,629,685

December 1,658 32,838,522 15,955,937

Month not determinable 5,126 125,975,652 53,422,444

Corporate stock

Gain

transac-

tions (1) Loss transactions

Type of transaction, Number of Sales

month of sale Gain transactions price

(4) (5) (6)

Short-term

transactions

Total 104,483,502 28,917 509,874,556

January 9,099,129 1,758 26,247,400

February 4,731,181 1,668 24,521,591

March 7,334,277 2,057 26,840,585

April 11,120,845 2,509 31,000,257

May 6,128,478 1,869 27,352,310

June 5,311,498 1,700 23,984,905

July 6,683,746 1,751 23,857,637

August 5,150,789 2,092 29,462,694

September 4,506,840 2,102 24,356,968

October 5,776,777 2,387 26,742,753

November 10,682,015 2,766 33,107,086

December 12,181,206 4,352 99,194,381

Month not determinable 15,776,721 1,906 113,205,988

Long-term transactions

Total 236,439,862 10,426 72,713,862

January 17,383,515 503 3,059,512

February 11,234,093 434 2,439,926

March 13,494,020 732 4,030,528

April 17,893,928 610 4,233,642

May 11,000,240 453 3,374,947

June 13,930,143 607 4,685,775

July 11,617,617 491 3,389,011

August 10,137,107 573 4,102,243

September 10,726,304 677 3,926,770

October 13,199,364 778 4,339,858

November 16,575,388 1,037 5,912,656

December 16,820,172 2,240 12,095,387

Month not determinable 72,427,972 1,290 17,123,607

Corporate stock

Loss transactions

Type of transaction,

month of sale Basis Loss

(7) (8)

Short-term

transactions

Total 586,946,973 77,256,755

January 29,822,333 3,441,094

February 27,711,325 3,193,661

March 31,077,450 4,232,912

April 35,914,335 4,929,171

May 30,941,668 3,591,656

June 27,758,752 3,777,987

July 27,121,136 3,273,886

August 36,230,969 6,771,222

September 29,703,951 5,343,207

October 31,864,472 5,121,354

November 39,120,789 6,009,933

December 113,256,057 14,078,078

Month not determinable 126,423,735 13,492,594

Long-term transactions

Total 110,715,807 38,562,763

January 4,499,936 1,445,863

February 3,515,770 1,076,595

March 5,912,568 1,882,747

April 6,224,041 1,991,538

May 4,679,386 1,304,982

June 6,702,875 2,018,143

July 4,833,896 1,445,094

August 5,671,283 1,569,732

September 5,590,279 1,669,881

October 6,772,236 2,437,858

November 9,439,794 3,528,080

December 22,546,240 10,487,919

Month not determinable 24,327,505 7,704,333

Footnotes at end of table 3e.

Table 3c.–Short-Term and Long-Term Capital Asset Transactions: Bonds

and Other Securities, by Month of Sale, Tax Year 1999

[All figures are estimates based on samples–number of transactions is

in thousands, money amounts are in thousands of dollars]

Bonds and other securities (2)

Gain transactions (1)

Type of transaction, Number of Sales

month of sale transactions price Basis

(1) (2) (3)

Short-term

transactions

Total 590 120,111,082 119,472,276

January 50 13,020,073 12,971,652

February 41 7,941,464 7,896,644

March 38 9,461,077 9,433,352

April 39 10,347,922 10,298,211

May 41 7,448,875 7,351,019

June 44 7,492,873 7,445,331

July 30 5,504,701 5,478,930

August 33 7,115,713 7,095,394

September 22 3,913,267 3,900,273

October 31 7,121,492 7,039,971

November 45 8,668,335 8,612,381

December 29 10,079,908 10,053,939

Month not determinable 148 21,995,383 21,895,179

Long-term transactions

Total 3,021 82,079,171 78,917,794

January 228 6,379,675 6,008,290

February 162 5,123,297 4,928,455

March 184 5,674,323 5,364,227

April 167 5,758,448 5,571,600

May 145 4,616,554 4,441,919

June 203 6,007,998 5,757,169

July 260 6,883,541 6,678,324

August 198 5,768,626 5,662,648

September 166 4,151,091 4,063,911

October 164 4,831,051 4,626,411

November 171 4,537,089 4,389,172

December 205 5,048,412 4,813,034

Month not determinable 769 17,299,066 16,612,634

Bonds and other securities (2)

Gain

transac-

tions (1) Loss transactions

Type of transaction, Number of Sales

month of sale Gain transactions price

(4) (5) (6)

Short-term

transactions

Total 536,628 570 41,809,726

January 48,198 27 4,029,861

February 37,995 31 3,231,620

March 27,659 33 2,392,651

April 48,833 47 2,372,168

May 97,297 32 2,082,708

June 47,141 57 4,413,731

July 23,378 51 2,497,396

August 19,393 32 3,244,635

September 12,547 25 1,608,714

October 22,235 36 2,982,238

November 54,346 55 3,400,079

December 24,792 95 5,816,923

Month not determinable 72,815 47 3,737,002

Long-term transactions

Total 3,203,680 1,230 36,610,150

January 371,390 78 2,056,012

February 194,951 60 1,916,316

March 310,100 91 1,980,598

April 187,367 59 1,433,544

May 174,683 67 1,667,426

June 250,600 88 2,310,431

July 205,250 84 3,129,705

August 106,096 114 2,977,594

September 87,866 73 2,357,608

October 204,671 114 3,095,508

November 147,915 108 3,364,606

December 253,276 184 6,341,773

Month not determinable 709,516 110 3,979,027

Bonds and other

securities (2)

Loss transactions

Type of transaction,

month of sale Basis Loss

(7) (8)

Short-term

transactions

Total 43,423,185 1,575,106

January 4,081,347 51,486

February 3,333,491 61,237

March 2,436,327 43,782

April 2,400,158 28,031

May 2,148,101 65,434

June 4,533,738 120,011

July 2,597,582 100,186

August 3,327,611 82,987

September 1,701,658 92,996

October 3,120,418 138,939

November 3,593,656 193,819

December 6,253,464 436,750

Month not determinable 3,895,636 159,448

Long-term transactions

Total 38,736,114 2,126,502

January 2,140,182 84,166

February 1,985,846 69,533

March 2,047,100 66,502

April 1,464,695 31,174

May 1,737,595 70,169

June 2,373,653 63,219

July 3,249,432 119,726

August 3,093,195 115,671

September 2,519,106 161,498

October 3,277,614 182,123

November 3,554,454 189,848

December 7,135,382 793,609

Month not determinable 4,157,860 179,264

Table 3d.–Short-Term and Long-Term Capital Asset Transactions: Real

Estate, by Month of Sale, Tax Year 1999

[All figures are estimates based on samples–number of transactions is

in thousands, money amounts are in thousands of dollars]

Real estate (3)

Gain transactions (1)

Type of transaction, Number of Sales

month of sale transactions price Basis

(1) (2) (3)

Short-term

transactions

Total 269 15,474,764 12,416,818

January 10 536,081 447,038

February 17 434,781 363,748

March 19 972,631 899,882

April 24 1,098,235 875,144

May 12 662,420 545,434

June 16 828,817 719,113

July 34 2,006,173 1,797,315

August 31 759,987 571,199

September 23 1,458,305 1,372,370

October 17 502,815 418,147

November 19 2,887,867 1,614,649

December 20 1,152,065 916,938

Month not determinable 29 2,174,587 1,875,839

Long-term transactions

Total 2,877 173,608,319 101,016,832

January 244 12,320,792 6,215,709

February 181 12,183,620 7,222,144

March 212 14,153,347 7,965,257

April 193 11,779,342 6,931,515

May 206 10,409,449 5,859,889

June 227 12,719,824 8,054,131

July 237 16,397,988 10,685,416

August 268 14,537,860 8,400,293

September 197 11,531,270 6,249,529

October 175 13,910,568 9,198,880

November 151 10,618,407 6,595,219

December 208 13,209,061 6,882,569

Month not determinable 379 19,836,792 10,756,281

Real estate (3)

Gain

transac-

tions (1) Loss transactions

Type of transaction, Number of Sales

month of sale Gain transactions price

(4) (5) (6)

Short-term

transactions

Total 1,869,870 56 6,863,621

January 78,079 2 556,326

February 70,105 2 122,598

March 63,805 6 362,829

April 196,364 7 724,126

May 102,939 1 623,576

June 80,445 7 308,680

July 218,679 4 315,270

August 72,138 5 800,606

September 81,893 4 124,244

October 84,296 2 98,368

November 260,070 3 321,970

December 233,335 5 2,293,944

Month not determinable 327,723 8 211,084

Long-term transactions

Total 59,612,601 402 26,307,145

January 5,396,174 30 2,517,000

February 4,669,226 29 2,003,250

March 4,640,136 24 1,239,175

April 4,640,808 25 1,565,322

May 4,048,726 33 2,184,355

June 3,914,693 28 2,302,447

July 4,315,506 29 1,745,910

August 4,973,799 35 1,725,982

September 4,107,640 25 1,274,950

October 3,103,074 30 2,565,327

November 3,366,108 16 754,267

December 3,703,154 46 3,677,556

Month not determinable 8,733,557 52 2,751,603

Real estate (3)

Loss transactions

Type of transaction,

month of sale Basis Loss

(7) (8)

Short-term

transactions

Total 7,328,472 458,394

January 631,297 74,971

February 142,756 20,169

March 418,198 55,369

April 770,725 40,540

May 636,600 13,024

June 335,322 26,641

July 338,971 23,701

August 852,173 51,567

September 141,134 16,891

October 108,991 10,622

November 378,836 56,920

December 2,318,872 24,806

Month not determinable 254,597 43,173

Long-term transactions

Total 31,214,947 4,951,775

January 2,854,009 337,009

February 2,485,696 482,063

March 1,469,582 230,393

April 1,924,393 359,070

May 2,630,769 447,897

June 2,532,165 229,406

July 2,058,562 312,661

August 2,067,302 341,424

September 1,419,140 144,191

October 3,151,023 585,695

November 886,322 132,189

December 4,400,294 722,767

Month not determinable 3,335,690 627,010

Footnote at end of table 3e.

Table 3e.–Short-Term and Long-Term Capital Asset Transactions: Other

Asset Types, by Month of Sale, Tax Year 1999

[All figures are estimates based on samples–number of transactions is

in thousands, money amounts are in thousands of dollars]

Other asset types (4)

Gain transactions (1)

Type of transaction, Number of Sales

month of sale transactions price Basis

(1) (2) (3)

Short-term

transactions

Total 13,070 356,458,922 328,060,667

January 761 10,719,827 8,039,213

February 619 7,091,584 6,315,442

March 624 11,062,484 10,167,838

April 748 9,416,231 7,815,826

May 631 7,407,622 6,683,888

June 596 6,275,930 5,331,232

July 689 6,679,040 5,745,297

August 516 7,327,187 6,495,193

September 586 6,548,491 5,791,680

October 517 6,199,525 5,220,324

November 588 7,901,706 6,724,116

December 859 25,730,795 23,526,323

Month not determinable 5,337 244,098,500 230,204,295

Long-term transactions

Total 36,046 235,503,164 157,667,231

January 866 13,742,744 9,530,429

February 938 9,007,425 6,460,527

March 834 12,365,784 8,705,764

April 870 10,158,134 6,818,861

May 715 7,983,884 5,556,196

June 933 12,305,346 8,046,892

July 826 13,100,796 9,215,811

August 732 8,523,031 5,259,259

September 623 9,980,984 6,722,033

October 585 8,578,441 5,695,882

November 593 8,001,842 5,228,726

December 1,117 14,822,219 9,952,726

Month not determinable 26,414 106,932,535 70,474,125

Other asset types (4)

Gain

transac-

tions (1) Loss transactions

Type of transaction, Number of Sales

month of sale Gain transactions price

(4) (5) (6)

Short-term

transactions

Total 49,087,937 8,952 377,924,143

January 2,667,087 395 3,363,119

February 840,143 422 3,931,971

March 902,097 475 3,831,932

April 1,593,558 397 4,625,154

May 833,662 377 4,518,089

June 942,701 440 3,771,247

July 950,427 399 4,042,684

August 844,808 441 5,182,886

September 820,543 457 4,991,222

October 916,502 462 4,318,397

November 1,131,860 491 5,669,247

December 2,098,183 908 13,369,365

Month not determinable 34,546,367 3,286 316,308,829

Long-term transactions

Total 264,466,107 9,820 91,703,236

January 3,610,047 325 2,699,845

February 2,358,886 371 2,364,196

March 2,835,536 505 2,744,885

April 2,804,525 416 2,631,234

May 2,157,749 334 2,534,295

June 3,678,519 613 5,310,574

July 3,151,879 421 5,039,148

August 3,030,098 400 5,448,184

September 2,649,036 355 3,260,738

October 2,699,896 343 5,461,944

November 2,554,339 472 4,129,247

December 4,539,274 1,578 11,067,519

Month not determinable 228,396,323 3,686 39,011,427

Other asset types (4)

Loss transactions

Type of transaction,

month of sale Basis Loss

(7) (8)

Short-term

transactions

Total 407,369,598 36,549,674

January 5,387,234 1,925,713

February 4,703,010 769,758

March 4,772,631 930,389

April 5,523,251 971,206

May 5,304,588 748,988

June 4,972,306 1,160,339

July 4,815,192 732,140

August 5,950,086 764,948

September 5,886,675 896,770

October 5,512,298 1,177,175

November 6,947,462 1,239,544

December 16,971,756 3,541,858

Month not determinable 330,623,110 21,690,844

Long-term transactions

Total 110,760,326 27,507,405

January 3,692,517 994,279

February 2,856,352 499,294

March 3,346,551 604,116

April 3,152,305 521,144

May 2,849,354 316,450

June 6,050,439 822,554

July 5,861,515 823,481

August 6,177,979 737,386

September 3,892,873 631,977

October 6,348,152 893,064

November 5,029,514 904,714

December 14,905,213 3,852,074

Month not determinable 46,597,561 15,906,872

(1) Transactions with no gain or loss are included with gain

transactions.

(2) Bonds and other securities include U. S. Government obligations,

State and local government obligations, and other bonds, notes, and

debentures.

(3) Real estate includes residential rental property, depreciable

business real property, farmland, and other land.

(4) Other asset types include all other asset categories not included

in the above categories, including put and call options; futures

contracts; all mutual funds; partnership, S corporation, and estate or

trust interests; pass-through gains and losses; livestock; timber;

involuntary conversions; depreciable business personal property;

residences; unidentifiable assets; and capital gain distributions.

NOTES: Detail may not add to totals because of rounding. Sales price

minus basis does not always equal net gain or loss because. (a) only

the gain is reported for capital gain distributions from mutual funds

and pass-through gains or losses; (b) part of the total gain or loss

on certain depreciable assets is treated as ordinary income rather

than capital gain or loss; and (c) sales price and basis are often

reported as negative for futures contracts and put and call options

when a loss occurred. Comparisons across tables may differ because of

misreporting of holding periods and the varying methodologies in

classifying these.

Table 4a.-Short-Term and Long-Term Capital Asset Transactions: All

Asset Types, by Length of Time Held, Tax Year 1999

[All figures are estimates based on samples–number of transactions is

in thousands, money amounts are in thousands of dollars]

All asset types

Gain transactions (1)

Number of Sales

transactions price

(1) (2)

Short-term transactions

Total 57,731 1,521,382,814

Under 1 month 22,670 521,793,453

1 month under 2 months 5,812 104,322,075

2 months under 3 months 3,696 53,924,381

3 months under 4 months 2,884 39,865,671

4 months under 5 months 2,384 29,791,045

5 months under 6 months 1,982 22,970,015

6 months under 7 months 1,950 27,152,000

7 months under 8 months 1,723 27,545,668

8 months under 9 months 1,430 16,504,992

9 months under 10 months 1,313 15,309,970

10 months under 11 months 1,241 13,052,670

11 months under 12 months 1,203 16,600,949

1 year or more (2) 508 24,766,391

Holding period not determinable 8,937 607,783,534

Long-term transactions

Total 64,318 898,465,062

Under 18 months (3) 6,582 91,424,193

18 months under 2 years 3,750 60,014,303

2 years under 3 years 5,475 81,699,226

3 years under 4 years 3,484 57,898,058

4 years under 5 years 2,421 50,114,630

5 years under 10 years 5,802 126,218,985

10 years under 15 years 1,989 63,195,778

15 years under 20 years 1,007 36,115,230

20 years or more 1,120 61,740,615

Holding period not determinable 32,688 270,044,045

All asset types

Gain transactions (1)

Basis Gain

(3) (4)

Short-term transactions

Total 1,386,633,997 155,977,938

Under 1 month 481,653,500 39,046,861

1 month under 2 months 88,699,104 15,641,929

2 months under 3 months 44,805,693 9,018,422

3 months under 4 months 32,650,680 7,175,213

4 months under 5 months 23,630,580 6,138,670

5 months under 6 months 18,266,909 4,690,046

6 months under 7 months 22,245,716 4,891,920

7 months under 8 months 22,996,733 4,524,949

8 months under 9 months 12,804,530 3,703,330

9 months under 10 months 12,242,547 3,127,189

10 months under 11 months 10,111,025 2,943,071

11 months under 12 months 13,897,217 2,707,069

1 year or more (2) 23,149,334 1,645,643

Holding period not determinable 579,480,429 50,723,626

Long-term transactions

Total 507,949,739 563,722,250

Under 18 months (3) 63,422,963 27,664,354

18 months under 2 years 40,092,165 19,678,479

2 years under 3 years 51,377,818 29,465,193

3 years under 4 years 32,888,267 23,799,598

4 years under 5 years 30,253,627 19,353,174

5 years under 10 years 73,717,425 47,791,069

10 years under 15 years 30,557,006 30,596,761

15 years under 20 years 13,742,321 19,362,909

20 years or more 20,632,663 35,743,344

Holding period not determinable 151,265,484 310,267,368

All asset types

Loss transactions

Number of Sales

transactions price

(5) (6)

Short-term transactions

Total 38,495 936,472,045

Under 1 month 12,410 240,015,109

1 month under 2 months 3,853 42,068,602

2 months under 3 months 2,683 28,060,575

3 months under 4 months 2,352 24,481,783

4 months under 5 months 1,998 20,587,243

5 months under 6 months 1,784 17,971,688

6 months under 7 months 1,576 14,764,479

7 months under 8 months 1,472 16,418,108

8 months under 9 months 1,345 10,972,849

9 months under 10 months 1,164 10,874,159

10 months under 11 months 1,179 9,869,414

11 months under 12 months 1,016 9,567,047

1 year or more (2) 415 57,358,087

Holding period not determinable 5,247 433,462,903

Long-term transactions

Total 21,878 227,334,393

Under 18 months (3) 5,020 47,012,817

18 months under 2 years 2,960 24,290,117

2 years under 3 years 3,220 26,970,592

3 years under 4 years 1,586 16,069,393

4 years under 5 years 915 9,919,567

5 years under 10 years 2,317 29,115,489

10 years under 15 years 481 5,846,543

15 years under 20 years 151 2,995,948

20 years or more 92 2,248,262

Holding period not determinable 5,137 62,865,664

All asset types

Gain transactions (1)

Basis Loss

(7) (8)

Short-term transactions

Total 1,045,068,228 115,839,929

Under 1 month 262,842,419 22,550,817

1 month under 2 months 52,528,497 10,407,861

2 months under 3 months 34,888,662 6,830,803

3 months under 4 months 30,418,322 5,939,019

4 months under 5 months 27,768,383 7,144,529

5 months under 6 months 22,966,428 4,998,355

6 months under 7 months 18,445,333 3,683,584

7 months under 8 months 20,352,109 3,920,640

8 months under 9 months 14,076,900 3,104,647

9 months under 10 months 13,587,438 2,714,705

10 months under 11 months 13,776,165 3,911,614

11 months under 12 months 12,417,774 2,848,012

1 year or more (2) 59,802,723 2,399,286

Holding period not determinable 461,197,077 35,386,059

Long-term transactions

Total 291,427,194 73,148,445

Under 18 months (3) 59,302,600 12,320,313

18 months under 2 years 32,390,864 8,101,595

2 years under 3 years 36,195,071 9,274,457

3 years under 4 years 20,255,004 4,234,962

4 years under 5 years 12,596,622 2,679,105

5 years under 10 years 36,187,347 7,087,550

10 years under 15 years 8,383,421 2,542,262

15 years under 20 years 4,509,326 1,513,645

20 years or more 3,188,322 977,077

Holding period not determinable 78,418,616 24,417,479

Footnotes at end of table 4e.

Table 4b.–Short-Term and Long-Term Capital Asset Transactions:

Corporate Stock, by Length of Time Held, Tax Year 1999

[All figure are estimates based on samples–number of transactions

is in thousands, money amounts are in thousands of dollars]

Corporate stock

Gain transactions (1)

Type of transaction, Number of Sales

length of time held transactions price

(1) (2)

Short-term transactions

Total 43,802 1,029,338,046

Under 1 month 19,500 405,097,034

1 month under 2 months 4,770 77,045,806

2 months under 3 months 3,163 40,385,237

3 months under 4 months 2,345 30,142,228

4 months under 5 months 1,996 23,138,355

5 months under 6 months 1,634 17,160,226

6 months under 7 months 1,468 18,712,254

7 months under 8 months 1,385 22,581,440

8 months under 9 months 1,160 12,385,474

9 months under 10 months 982 9,713,942

10 months under 11 months 917 9,075,277

11 months under 12 months 806 10,382,558

1 year or more (2) 252 14,003,152

Holding period not determinable 3,422 339,515,063

Long-term transactions

Total 22,373 407,274,409

Under 18 months (3) 4,397 53,666,451

18 months under 2 years 2,545 37,146,550

2 years under 3 years 3,316 43,192,211

3 years under 4 years 1,846 28,710,866

4 years under 5 years 1,154 24,160,842

5 years under 10 years 2,384 46,121,258

10 years under 15 years 760 18,797,251

15 years under 20 years 420 11,678,733

20 years or more 424 17,824,595

Holding period not determinable 5,126 125,975,652

Corporate stock

Gain transactions (1)

Type of transaction,

length of time held Basis Gain

(3) (4)

Short-term transactions

Total 926,684,236 104,483,502

Under 1 month 371,546,828 33,592,742

1 month under 2 months 64,711,116 12,345,819

2 months under 3 months 32,708,336 7,679,529

3 months under 4 months 23,870,068 6,286,374

4 months under 5 months 17,858,206 5,274,855

5 months under 6 months 12,985,195 4,174,083

6 months under 7 months 14,722,020 3,982,952

7 months under 8 months 18,610,182 3,970,433

8 months under 9 months 9,113,444 3,275,540

9 months under 10 months 7,132,636 2,584,305

10 months under 11 months 6,578,757 2,497,770

11 months under 12 months 8,250,891 2,130,460

1 year or more (2) 13,091,441 911,919

Holding period not determinable 325,505,115 15,776,721

Long-term transactions

Total 170,347,882 236,439,862

Under 18 months (3) 31,259,958 22,414,113

18 months under 2 years 21,353,715 15,778,704

2 years under 3 years 19,622,642 23,475,932

3 years under 4 years 11,060,676 17,569,112

4 years under 5 years 10,044,549 14,107,611

5 years under 10 years 14,754,530 31,186,332

10 years under 15 years 3,969,721 14,826,999

15 years under 20 years 2,218,027 9,451,667

20 years or more 2,641,621 15,201,421

Holding period not determinable 53,422,444 72,427,972

Corporate stock

Loss transactions

Type of transaction, Number of Sales

length of time held transactions price

(5) (6)

Short-term transactions

Total 28,917 509,874,556

Under 1 month 10,445 204,967,849

1 month under 2 months 3,154 34,159,586

2 months under 3 months 2,249 21,559,557

3 months under 4 months 1,937 16,379,117

4 months under 5 months 1,646 14,264,829

5 months under 6 months 1,470 11,646,372

6 months under 7 months 1,228 8,959,549

7 months under 8 months 1,182 11,829,553

8 months under 9 months 1,076 6,671,209

9 months under 10 months 835 6,076,715

10 months under 11 months 858 5,361,423

11 months under 12 months 709 4,817,513

1 year or more (2) 221 49,975,294

Holding period not determinable 1,906 113,205,988

Long-term transactions

Total 10,426 72,713,862

Under 18 months (3) 3,288 22,581,935

18 months under 2 years 1,767 9,954,189

2 years under 3 years 1,725 9,437,167

3 years under 4 years 748 4,237,874

4 years under 5 years 379 2,516,380

5 years under 10 years 891 4,507,301

10 years under 15 years 232 1,003,963

15 years under 20 years 62 299,834

20 years or more 43 1,051,612

Holding period not determinable 1,290 17,123,607

Corporate stock

Loss transactions

Type of transaction,

length of time held Basis Loss

(7) (8)

Short-term transactions

Total 586,946,973 77,256,755

Under 1 month 222,692,194 17,679,721

1 month under 2 months 41,449,027 7,237,530

2 months under 3 months 27,170,644 5,611,792

3 months under 4 months 21,273,290 4,894,729

4 months under 5 months 20,741,482 6,477,180

5 months under 6 months 15,946,070 4,303,314

6 months under 7 months 11,825,085 2,868,048

7 months under 8 months 15,123,246 3,295,328

8 months under 9 months 9,309,992 2,639,905

9 months under 10 months 8,225,665 2,149,369

10 months under 11 months 8,595,473 3,235,883

11 months under 12 months 7,011,072 2,193,638

1 year or more (2) 51,159,995 1,177,723

Holding period not determinable 126,423,735 13,492,594

Long-term transactions

Total 110,715,807 38,562,763

Under 18 months (3) 31,956,096 9,393,516

18 months under 2 years 16,156,778 6,203,238

2 years under 3 years 15,859,707 6,421,992

3 years under 4 years 6,845,715 2,641,966

4 years under 5 years 4,024,193 1,508,180

5 years under 10 years 7,485,840 2,984,959

10 years under 15 years 2,028,624 1,024,677

15 years under 20 years 535,124 235,290

20 years or more 1,496,225 444,612

Holding period not determinable 24,327,505 7,704,333

Footnotes at end of table 4e.

Table 4c.–Short-Term and Long-Term Capital Asset Transactions:

Bonds and Other Securities, by Length of Time Held, Tax Year 1999

[All figures are estimates based on samples–number of transactions

is in thousands, money amounts are in thousands of dollars]

Bonds and other securities

(4)

Gain transactions (1)

Type of transaction, Number of Sales

length of time held transactions price

(1) (2)

Short-term transactions

Total 590 120,111,082

Under 1 month 122 58,104,892

1 month under 2 months 44 14,259,687

2 months under 3 months 24 5,713,704

3 months under 4 months 32 3,892,953

4 months under 5 months 24 1,764,870

5 months under 6 months 24 2,018,408

6 months under 7 months 50 3,460,189

7 months under 8 months 14 1,337,654

8 months under 9 months 28 1,112,538

9 months under 10 months 21 1,344,738

10 months under 11 months 23 1,259,041

11 months under 12 months 20 1,913,347

1 year or more (2) 16 1,933,677

Holding period not determinable 148 21,995,383

Long-term transactions

Total 3,021 82,079,171

Under 18 months (3) 122 7,389,256

18 months under 2 years 139 5,794,262

2 years under 3 years 320 10,721,852

3 years under 4 years 212 6,815,270

4 years under 5 years 266 7,213,669

5 years under 10 years 859 19,678,400

10 years under 15 years 234 5,037,114

15 years under 20 years 71 1,382,601

20 years or more 29 747,681

Holding period not determinable 769 17,299,066

Bonds and other

securities (4)

Gain transactions (1)

Type of transaction,

length of time held Basis Gain

(3) (4)

Short-term transactions

Total 119,472,276 536,628

Under 1 month 57,919,707 114,256

1 month under 2 months 14,215,949 42,751

2 months under 3 months 5,691,892 21,798

3 months under 4 months 3,874,040 18,171

4 months under 5 months 1,706,122 58,781

5 months under 6 months 1,981,960 34,551

6 months under 7 months 3,406,182 53,837

7 months under 8 months 1,317,385 20,359

8 months under 9 months 1,086,892 25,614

9 months under 10 months 1,329,496 15,342

10 months under 11 months 1,228,339 30,707

11 months under 12 months 1,891,927 21,426

1 year or more (2) 1,927,206 6,221

Holding period not determinable 21,895,179 72,815

Long-term transactions

Total 78,917,794 3,203,680

Under 18 months (3) 7,287,420 102,125

18 months under 2 years 5,639,407 162,284

2 years under 3 years 10,378,856 343,231

3 years under 4 years 6,481,652 336,857

4 years under 5 years 7,013,747 207,545

5 years under 10 years 19,256,776 422,311

10 years under 15 years 4,571,054 465,867

15 years under 20 years 1,190,619 191,892

20 years or more 485,630 262,051

Holding period not determinable 16,612,634 709,516

Bonds and other securities

(4)

Loss transactions

Type of transaction, Number of Sales

length of time held transactions price

(5) (6)

Short-term transactions

Total 570 41,809,726

Under 1 month 64 12,115,496

1 month under 2 months 35 3,115,904

2 months under 3 months 31 2,619,729

3 months under 4 months 52 3,613,656

4 months under 5 months 39 2,311,150

5 months under 6 months 48 2,384,694

6 months under 7 months 53 2,556,393

7 months under 8 months 38 1,851,637

8 months under 9 months 39 1,521,260

9 months under 10 months 43 2,201,954

10 months under 11 months 33 1,652,938

11 months under 12 months 31 1,547,376

1 year or more (2) 16 580,536

Holding period not determinable 47 3,737,002

Long-term transactions

Total 1,230 36,610,150

Under 18 months (3) 191 8,292,842

18 months under 2 years 128 5,514,546

2 years under 3 years 193 5,527,381

3 years under 4 years 128 3,127,998

4 years under 5 years 123 2,925,134

5 years under 10 years 304 6,533,652

10 years under 15 years 33 503,536

15 years under 20 years 11 72,803

20 years or more 9 133,230

Holding period not determinable 110 3,979,027

Bonds and other

securities (4)

Loss transactions

Type of transaction,

length of time held Basis Loss

(7) (8)

Short-term transactions

Total 43,423,185 1,575,106

Under 1 month 12,249,926 134,824

1 month under 2 months 3,197,787 81,883

2 months under 3 months 2,690,784 71,056

3 months under 4 months 3,731,954 119,135

4 months under 5 months 2,437,978 86,145

5 months under 6 months 2,514,270 129,576

6 months under 7 months 2,680,422 124,299

7 months under 8 months 1,968,930 117,293

8 months under 9 months 1,623,201 101,940

9 months under 10 months 2,375,871 173,925

10 months under 11 months 1,770,756 117,830

11 months under 12 months 1,653,037 105,657

1 year or more (2) 632,630 52,094

Holding period not determinable 3,895,636 159,448

Long-term transactions

Total 38,736,114 2,126,502

Under 18 months (3) 8,822,483 529,722

18 months under 2 years 5,808,325 293,802

2 years under 3 years 5,753,892 226,517

3 years under 4 years 3,363,810 235,812

4 years under 5 years 3,070,633 145,499

5 years under 10 years 6,959,300 425,643

10 years under 15 years 570,736 67,199

15 years under 20 years 84,916 12,113

20 years or more 144,160 10,930

Holding period not determinable 4,157,860 179,264

Footnotes at end of table 4e.

Table 4d.–Short-Term and Long-Term Capital Asset Transactions: Real

Estate, by Length of Time Held, Tax Year 1999

[All figures are estimates based on samples-number of transactions is

in thousands, money amounts are in thousands of dollars]

Real estate (5)

Gain transactions (1)

Type of transaction, Number of Sales

length of time held transactions price Basis

(1) (2) (3)

Short-term transactions

Total 269 15,474,764 12,416,818

Under 1 month 40 2,795,814 1,661,898

1 month under 2 months 25 793,708 683,226

2 months under 3 months 15 861,439 675,926

3 months under 4 months 21 720,105 590,954

4 months under 5 months 16 864,856 738,530

5 months under 6 months 14 632.056 556,891

6 months under 7 months 26 2,027,426 1,714,242

7 months under 8 months 9 563,528 473,491

8 months under 9 months 14 555,867 500,237

9 months under 10 months 18 1,623,696 1,437,916

10 months under 11 months 16 553,156 463,286

11 months under 12 months 15 910,834 801,316

1 year or more (2) 10 397,693 243,065

Holding period not

determinable 29 2,174,587 1,875,839

Long-term transactions

Total 2,877 173,608,319 101,016,832

Under 18 months (3) 117 10,095,173 8,302,111

18 months under 2 years 63 5,693,814 4,407,895

2 years under 3 years 163 10,175,113 7,640,245

3 years under 4 years 172 10,031,041 6,492,059

4 years under 5 years 159 9,581,539 6,968,973

5 years under 10 years 567 35,638,596 23,470,940

10 years under 15 years 461 25,531,018 13,285,704

15 years under 20 years 316 17,122,177 7,899,846

20 years or more 480 29,903,057 11,792,778

Holding period not

determinable 379 19,836,792 10,756,281

Real estate (5)

Gain

transactions (1) Loss transactions

Type of transaction, Number of Sales

length of time held Gain transactions price

(4) (5) (6)

Short-term transactions

Total 1,869,870 56 6,863,621

Under 1 month 124,679 3 201,419

1 month under 2 months 91,810 2 173,126

2 months under 3 months 89,418 1 165,433

3 months under 4 months 99,877 1 670,902

4 months under 5 months 107,970 8 968,861

5 months under 6 months 64,927 6 798,151

6 months under 7 months 298,064 2 175,175

7 months under 8 months 92,057 2 370,503

8 months under 9 months 55,774 4 320,629

9 months under 10 months 176,438 4 78,082

10 months under 11 months 90,253 6 296,857

11 months under 12 months 90,001 5 185,374

1 year or more (2) 160,879 4 2,248,026

Holding period not

determinable 327,723 8 211,084

Long-term transactions

Total 59,612,601 402 26,307,145

Under 18 months (3) 1,621,371 30 3,890,178

18 months under 2 years 1,091,821 24 1,889,271

2 years under 3 years 2,198,949 61 3,183,380

3 years under 4 years 2,720,305 27 2,806,128

4 years under 5 years 2,371,555 25 1,224,974

5 years under 10 years 9,816,265 92 6,384,317

10 years under 15 years 11,061,751 39 1,956,289

15 years under 20 years 6,443,091 34 1,677,754

20 years or more 13,553,937 18 543,250

Holding period not

determinable 8,733,557 52 2,751,603

Real estate (5)

Loss transactions

Type of transaction,

length of time held Basis Loss

(7) (8)

Short-term transactions

Total 7,328,472 458,394

Under 1 month 217,452 16,034

1 month under 2 months 180,741 7,616

2 months under 3 months 176,694 11,261

3 months under 4 months 711,773 40,870

4 months under 5 months 1,038,858 69,997

5 months under 6 months 836,499 38,347

6 months under 7 months 202,278 27,103

7 months under 8 months 405,544 35,041

8 months under 9 months 333,182 12,563

9 months under 10 months 88,033 9,952

10 months under 11 months 350,193 53,389

11 months under 12 months 221,346 35,971

1 year or more (2) 2,311,282 57,076

Holding period not

determinable 254,597 43,173

Long-term transactions

Total 31,214,947 4,951,775

Under 18 months (3) 4,148,945 258,839

18 months under 2 years 2,082,880 193,610

2 years under 3 years 3,807,417 623,758

3 years under 4 years 3,137,201 331,072

4 years under 5 years 1,553,646 328,685

5 years under 10 years 7,531,483 1,148,402

10 years under 15 years 2,638,893 682,610

15 years under 20 years 2,206,964 529,209

20 years or more 771,829 228,579

Holding period not

determinable 3,335,690 627,010

Footnotes at end of table 4e

Table 4e.–Short-Term and Long-Term Capital Asset Transactions: Other

Asset Types, by Length of Time Held, Tax Year 1999

[All figures are estimates based on samples-number of transactions is

in thousands, money amounts are in thousands of dollars]

Other asset types (6)

Gain transaction (1)

Type of transaction, Number of Sales

length of time held transactions price Basis

(1) (2) (3)

Short-term transactions

Total 13,070 356,458,922 328,060,887

Under 1 month 3,007 55,795,713 50,525,066

1 month under 2 months 972 12,222,873 9,088,813

2 months under 3 months 494 6,964,002 5,729,539

3 months under 4 months 485 5,110,385 4,315,618

4 months under 5 months 348 4,022,966 3,327,722

5 months under 6 months 310 3,159,325 2,742,863

6 months under 7 months 406 2,952,131 2,403,272

7 months under 8 months 315 3,063,046 2,595,675

8 months under 9 months 229 2,451,112 2,103,956

9 months under 10 months 291 2,627,594 2,342,500

10 months under 11 months 285 2,165,196 1,840,643

11 months under 12 months 362 3,394,210 2,953,083

1 year or more 230 8,431,868 7,887,621

Holding period not

determinable 5,337 244,098,500 230,204,295

Long-term transactions

Total 36,046 235,503,164 157,667,231

Under 18 months (3) 1,946 20,273,313 16,573,473

18 months under 2 years 1,002 11,379,678 8,691,149

2 years under 3 years 1,676 17,610,049 13,736,076

3 years under 4 years 1,255 12,340,882 8,853,880

4 years under 5 years 841 9,158,581 6,226,358

5 years under 10 years 1,992 24,780,731 16,235,180

10 years under 15 years 533 13,830,396 8,730,527

15 years under 20 years 200 5,931,719 2,433,829

20 years or more 187 13,265,282 5,712,633

Holding period not

determinable 26,414 106,932,535 70,474,125

Other asset types (6)

Gain

transaction (1) Loss transactions

Type of transaction, Number of Sales

length of time held Gain transactions price

(4) (5) (6)

Short-term transactions

Total 49,087,937 8,952 377,924,143

Under 1 month 5,215,184 1,897 22,730,345

1 month under 2 months 3,161,550 663 4,619,986

2 months under 3 months 1,227,677 401 3,715,856

3 months under 4 months 770,791 361 3,818,108

4 months under 5 months 697,064 306 3,042,403

5 months under 6 months 416,485 260 3,142,471

6 months under 7 months 557,067 292 3,073,363

7 months under 8 months 442,100 250 2,366,415

8 months under 9 months 346,401 226 2,459,751

9 months under 10 months 351,104 282 2,517,408

10 months under 11 months 324,341 282 2,558,194

11 months under 12 months 465,182 270 3,016,783

1 year or more 566,624 174 4,554,231

Holding period not

determinable 34,546,367 3,286 316,308,829

Long-term transactions

Total 264,466,107 9,820 91,703,236

Under 18 months (3) 3,526,746 1,511 12,247,862

18 months under 2 years 2,645,670 1,040 6,932,111

2 years under 3 years 3,447,081 1,241 8,822,664

3 years under 4 years 3,173,325 683 5,897,392

4 years under 5 years 2,666,463 388 3,253,079

5 years under 10 years 6,366,161 1,030 11,690,219

10 years under 15 years 4,242,144 177 2,382,755

15 years under 20 years 3,276,259 43 945,557

20 years or more 6,725,935 22 520,170

Holding period not

determinable 228,396,323 3,686 39,011,427

Other asset types (6)

Loss Transactions

Type of transaction,

length of time held Basis Loss

(7) (8)

Short-term transactions

Total 407,369,598 36,549,674

Under 1 month 27,682,846 4,720,238

1 month under 2 months 7,700,942 3,080,831

2 months under 3 months 4,850,540 1,136,694

3 months under 4 months 4,701,305 884,284

4 months under 5 months 3,550,063 511,206

5 months under 6 months 3,669,588 527,117

6 months under 7 months 3,737,547 664,133

7 months under 8 months 2,854,388 472,978

8 months under 9 months 2,810,526 350,239

9 months under 10 months 2,897,868 381,459

10 months under 11 months 3,059,742 504,512

11 months under 12 months 3,532,318 512,745

1 year or more 5,698,816 1,112,393

Holding period not

determinable 330,623,110 21,690,844

Long-term transactions

Total 110,760,326 27,507,405

Under 18 months (3) 14,375,076 2,138,236

18 months under 2 years 8,342,881 1,410,946

2 years under 3 years 10,774,056 2,002,189

3 years under 4 years 6,908,278 1,026,111

4 years under 5 years 3,948,149 696,740

5 years under 10 years 14,210,725 2,528,545

10 years under 15 years 3,145,168 767,776

15 years under 20 years 1,682,322 737,033

20 years or more 776,109 292,955

Holding period not

determinable 46,597,561 15,906,872

(1) Transactions with no gain or loss are included with gain

transactions.

(2) Dates showed holding period to be 1 year or more and transactions

not reclassified during editing.

(3) Includes some transactions where holding period was under 1 year

and transactions not reclassified during editing.

(4) Bonds and other securities include U. S. Government obligations,

State and local government obligations, and other bonds, notes and

debentures.

(5) Real estate includes residential rental property, depreciable

business real property, farmland and other land.

(6) Other asset types include all other asset categories not included

in the above categories, including put and call options; futures

contracts; all mutual funds; partnership, S corporation, and estate or

trust interest; pass through gains and losses; livestock; timber;

involuntary conversions; depreciable business personal property;

residences; unidentified assets; and capital gain distributions.

NOTES: Detail may not add to totals because of rounding. Sales price

minus basis does not always equal net gain or loss because: (a) only

the gain is reported for capital gain distributions from mutual funds

and pass-through gains or losses; (b) part of the total gain or loss

on certain depreciable assets is treated as ordinary income rather than

capital gain or loss; and (c) sales price and basis are often reported

as negative for futures contracts and put and call options when a loss

occurred. Comparisons across tables may differ because of misreporting

of holding periods and the varying methodologies in classifying these.

Figure A

Net Capital Gains, by Source and Type of Asset, Tax Year 1999

Corporate stock 42.4%

Pass-through gains 25.3%

Other assets 20.8%

Capital gain distributions 11.5%

All other 10.9%

Depreciable business real and personal property and residence 3.8%

Partnership S corporation, and estate or trust interests 3.4%

Mutual funds 2.7%

Note: Table made from pie chart.

NOTE: Other assets include U.S> Government and State and local

government obligations, bonds, options and futures, tax-exempt bond

mutual funds, livestock, timber, involuntary conversions, land, and,

unidentifiable.

Notes and References

[1] See Wilson, Janette, “Sales of Capital Assets Reported on Individual Income Tax Returns, 1998 and 1997,” Statistics of Income Bulletin, Summer 2002, Volume 22, Number 1.

[2] See Economic Report of the President (February 1997) published by the Government Printing Office, Washington, D.C, Appendix B.

[3] Net capital gains of $530.7 billion and capital gain distributions of $61.0 billion differ from data previously published ($542.8 billion and $59.5 billion, respectively). Net capital gain in this article is defined as current year short-term and long term gains less losses not including carry-over amounts from previous years. In addition, losses are not limited when they exceed $3,000 per return. See Campbell, David and Parisi, Michael, “Individual Income Tax Returns, 1999,” Statistics of Income Bulletin, Fall 2001, Volume 21, Number 2.

This article was written by Janette Wilson, an economist with the Individual Research Section, under the direction of Carl Greene, Chief

COPYRIGHT 2003 U.S. Government Printing Office

COPYRIGHT 2004 Gale Group