Washington § 82.87.060 - Deductions.

Full text of Washington Revised Code of Washington § 82.87.060 — Deductions., with citation guidance and answers to common questions.

§ 82.87.060. Deductions.

In computing tax for a taxable year, a taxpayer may deduct from his or her Washington capital gains:
(1) A standard deduction of $250,000 per individual, or in the case of spouses or domestic partners, their combined standard deduction is limited to $250,000, regardless of whether they file joint or separate returns. The amount of the standard deduction shall be adjusted pursuant to RCW 82.87.150;
(2) Amounts that the state is prohibited from taxing under the Constitution of this state or the Constitution or laws of the United States;
(3) The amount of adjusted capital gain derived from the sale or transfer of the taxpayer's interest in a qualified family-owned small business pursuant to RCW 82.87.070; and
(4) Charitable donations deductible under RCW 82.87.080.
[ 2021 c 196 s 7.]

Notes

Automatic expiration date and tax preference performance statement exemption—2021 c 196: See note following RCW 82.87.010.

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Frequently Asked Questions About Washington § 82.87.060

What does Revised Code of Washington § 82.87.060 cover?

Section 82.87.060 ("Deductions.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Washington § 82.87.060?

A common citation format is "Revised Code of Washington § 82.87.060" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 82.87.060 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Washington.