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The capital gains tax rate for long-term assets is 0%, 15%, 20%, 25% or 28%. You only pay capital gains tax if you sell an asset for more than you spent to acquire it.
The long-term capital gains tax rates are 15 percent, 20 percent and 28 percent (for certain special asset types, like small business stock collectibles), depending on your income.
From 1998 through 2017, tax law keyed the tax rate for long-term capital gains to the taxpayer's tax bracket for ordinary income, and set forth a lower rate for the capital gains. (Short-term capital gains have been taxed at the same rate as ordinary income for this entire period.) [ 16 ] This approach was dropped by the Tax Cuts and Jobs Act ...
Taxable part of a gain resulting from the sale of a Section 1202 qualified small business stock. Net capital gains from the sale of collectibles like coins or art ... property and have a capital ...
For profits on your main home to be considered long-term capital gains, the IRS says you have to own the home and live in it for two of the five years leading up to the sale. In this case, you ...
The sale results in a short-term capital gain, and your income is $115,000 when you file taxes. ... Conversely, long-term capital gains have different tax rates than short-term gains: 0%, 15%, and ...
The tables below show the thresholds for taxable income to meet the 0, 15 and 20 percent long-term capital gains tax rates. Long-term capital gains tax rates for the 2023 tax year FILING STATUS
The other long-term capital gains tax rates are 0% and 15%. ... between the purchase and sale of the asset. Long-term capital gains are taxed using a 0% to 20% tax schedule, whereas short-term ...