capital gain tax, page-4

is the 50% deduction taken into account after before you take out any losses or do you take out your losses before appying the 50% deduction?

eg held 12mtns

buy $10
sell $20
held 12mnts
gain of $10

had losses during year of $5

so do you go 10 - 5 equals $5 gain to be taxed or

10 minus 50% deduction = $5 now minus loss $5 = no cap gaions tax