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Excel Formula to Calculate Capital Gains

AnilR

New Member
Hi:
I need some help with a formula for a tax worksheet I building.

I have a situation where in Cell E87 I could have either a Loss (..negative #) or a Gain (..positive #). In Cell E88, I need to do the following:

If Cell E87 is a Loss (..negative #), Enter the smaller of:
(a) the Loss in Cell E88
(b) $3000 ($1500 if Cell C67 = "MFS" )

Any help is appreciated.

Thanks a million times
 
Hi, @AnilR !

I try to follow your instructions. Maybe this works (if not, upload a sample file with your need)
=IF(E87<0,MIN(E88,IF(C67="MFS",1500,3000)),"")

Blessings!
 
Hi John: It works with a small change I made as follows: =IF(E87<0,MIN(E87,IF(C67="MFS",1500,3000)),"")
...where I changed your E88 to E87 as shown here.

"...Income Tax rules can be a nightmare"

Thank you very much. Much appreciated!
 
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