Some tax stuff on capital gains... https://turb
Post# of 8802
Posted On: 05/06/2016 8:16:48 PM
Some tax stuff on capital gains...
https://turbotax.intuit.com/tax-tools/tax-tip...22384.html
Short-term capital gains
Short-term capital gains do not benefit from any special tax rate – they are taxed at the same rate as your ordinary income. For 2015, ordinary tax rates range from 10 percent to 39.6 percent, depending on your total taxable income.
If you sell an asset you have held for one year or less, any profit you make is considered a short-term capital gain. The clock begins ticking from the day after you acquire the asset up to and including the day you sell it.
Long-term capital gains
If you can manage to hold your assets for longer than a year, you can benefit from a reduced tax rate on your profits. For 2015, the long-term capital gains tax rates are 0, 15, and 20 percent for most taxpayers. If your ordinary tax rate is already less than 15 percent, you could qualify for the zero percent long-term capital gains rate. For high-income taxpayers, the capital gains rate could save as much as 19.6 percent off the ordinary income rate
https://turbotax.intuit.com/tax-tools/tax-tip...22384.html
Short-term capital gains
Short-term capital gains do not benefit from any special tax rate – they are taxed at the same rate as your ordinary income. For 2015, ordinary tax rates range from 10 percent to 39.6 percent, depending on your total taxable income.
If you sell an asset you have held for one year or less, any profit you make is considered a short-term capital gain. The clock begins ticking from the day after you acquire the asset up to and including the day you sell it.
Long-term capital gains
If you can manage to hold your assets for longer than a year, you can benefit from a reduced tax rate on your profits. For 2015, the long-term capital gains tax rates are 0, 15, and 20 percent for most taxpayers. If your ordinary tax rate is already less than 15 percent, you could qualify for the zero percent long-term capital gains rate. For high-income taxpayers, the capital gains rate could save as much as 19.6 percent off the ordinary income rate
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