Capital gains

If you choose to Review the calculations, Mclowd may display the Market Revaluation screen and then the Trust Distributions screen. You cannot edit information on this screen. You will then see the capital gains worksheet (as shown below) to enable you to review the taxable capital gains for the year. Note that the screen will not allow editing, but you can print or export to Excel, or Download a PDF for your records.

Note: If you had any prior year capital losses to be offset, the amount should have been entered while setting up the Fund in Mclowd (refer to Fund Setup process). If they were not entered, go back to the FUND SETUP option and select PRIOR YEAR LOSSES to enter these.

They will then display at row G in the Capital Gains worksheet.

The taxable capital gains figure will be saved against Line A. Net Capital Gains on Section B: Income.