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The federal tax brackets for 2024 taxable income filed in 2025 and 2025 taxable income filed in 2026 are listed below. ... The capital gains tax rate for long-term assets is 0%, 15%, 20%, 25% or ...
[3] [4] Therefore, the top federal tax rate on long-term capital gains is 23.8%. State and local taxes often apply to capital gains. In a state whose tax is stated as a percentage of the federal tax liability, the percentage is easy to calculate.
Long-term capital gains tax rates for the 2024 tax year — by filing status. Single. 0% rate: Up to $47,025. ... no federal income taxes are due on earnings or the initial investment.
The top federal long-term capital gains rate is 20%, which is lower than all but two of the seven ordinary income tax rates. The other long-term capital gains tax rates are 0% and 15%.
To encourage longer-term investments, the federal tax law sets three brackets that usually result in a lower tax rate on long-term capital gains. For single filers: 0% for incomes up to $40,400
Long-term capital gains tax rates for the 2023 tax year. FILING STATUS. 0% RATE. 15% RATE. 20% RATE. Single. Up to $44,625. $44,626 – $492,300. Over $492,300. Married filing jointly. Up to $89,250.
For instance, if you have one investment that is down by $3,000 and another up by $5,000, selling both will help you reduce your gains. You would only be subject to capital gains taxes on the ...
Find Out: What Are the 2020-2021 Federal Tax Brackets and Tax Rates? ... The capital gains tax rate for tax year 2020 ranges from 0% to 28%. For most people, the capital gains tax does not exceed ...