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The long-term capital gains tax rates are 0 percent, 15 percent and 20 percent, depending on your income. ... Long-term capital gains tax rates for the 2024 tax year — by filing status. Single ...
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 FICA tax rate is 15.3% ...
March 18, 2024 at 11:08 AM. ... Most long-term capital gains will see a tax rate of no more than 15%, though certain assets (like coins and art) can be taxed at a rate up to 28%. Depending on your ...
The lower rate on long-term capital gains, compared to the rate on ordinary income, is regarded by the political left, such as Sen. Bernie Sanders, as a "tax break" that excuses investors from paying their "fair share", [19] [25] or a "tax expenditure" that government could elect to stop spending. [26]
The tax rate for individuals on "long-term capital gains", which are gains on assets that have been held for over one year before being sold, is lower than the ordinary income tax rate, and in some tax brackets there is no tax due on such gains. The tax rate on long-term gains was reduced in 1997 via the Taxpayer Relief Act of 1997 from 28% to ...
Long-term capital gains tax rates for the 2023 tax year. FILING STATUS. 0% RATE. 15% RATE. ... Long-term capital gains tax rates for the 2024 tax year. FILING STATUS. 0% RATE. 15% RATE. 20% RATE.
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%.
Long-term capital gains are taxed a lower rate than short-term gains. The long-term capital gains tax rate depends on your taxable income. If you’ve already received an extension and will be ...