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What is the capital gain tax rate?
The capital gains tax rates are determined by the type of investment asset and the holding period of the asset. In additional to the federal capital gains tax rates, your capital gains will also be subject to state income taxes. Many states do not have separate capital gains tax rates. Instead, most states will tax your capital gains as ordinary income subject to the state income taxes rates.
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What are the tax rates on short term capital gains and long term capital gains for a student with no income but who has 10000 in the stock market?
There is no such animal as a short term capital gain or loss... When you hold the stock for a year or more it is treated as capital and the tax rate on your realized gains is …(currently) 15%. If you sell out and had held for less than a year, your gain or loss is netted together with other ordinary income such as the pay you get from a regular job, and is subject to the same tax rates as for your regular paycheck.
Answer 15% for Long Term, Ordinary Rates for short term www.TaxMeThis.com
Capital gains are taxes that you pay on profit as a result of selling an asset. Usually you reconcile these when you do your IRS tax returns. You get a credit for the co…st of the house (and improvements), land, stocks or similar item (the "cost basis") and so just pay income tax on the remaining amount (the profit). Certain taxes on capital gains are also capped at a lower rate than the highest rate of tax on personal income. For example, if you owned the property for more than one year, you would calculate the tax based upon the "long-term" capital gains rates. Check out irs.gov for more information.
Answer Normal income tax rates for your state
6.85% in 2008, from the NYS web site
Apparently (and surprisingly) the top Capital Gains Tax in Wisconsin (as of 2007/2008) is... 2.7% (as opposed to the top Income Tax rate which is 6.7%). cf http://sb…ecouncil.blogspot.com/2008/01/wisconsin-and-capital-gains-taxes.html Not certain whether this is an across-the board rate, or (if this is the "top" rate) it is lower for lesser capital gains, nor what the table is; but this is enough to go on for calculation/guesstimation & pre-planning work.
the highest rate is 15%
5.75% for both short term and long term.
Trick question! New York, like most states, does not have a separate tax structure for capital gains from financial investments (other rule may apply for real estate and… collectibles). So all gains (long and short term) from financial investments is taxed as additional regular income, subject to the same tax brackets as salary income.
A capital gains tax is a federal tax that is paid by both corporations and individuals on the net total of their capital gains for the year. In the state of Georgia that rate …is 6.0 percent.
If left a house in a will in New York State, do I pay capital gains? Keith Hudak
If this is a business asset then you will have to use the 1040 tax form 4797 to report the transaction on. You will use the information that is on the 1099-B to report the tra…nsaction on your 1040 tax form. If this is personal property (non-business) and you have owned it for more than one year and it is sold at a gain. You will have a long term capital gain (LTCG) that will be taxed at the 0% to 15% maximum capital gain tax rate. The transaction will be reported on the schedule D of the 1040 tax form. When you complete the schedule D all the way through line by line the LTCG will be taxed at the 0% to 15% maximum capital gain rate. You will have to complete the schedule D worksheet on page 10 of the schedule D instruction book all the way through line 36 as that will be where the tax numbers will come from to go on line 44 of your tax return. For forms and instruction go to IRS gov website and use the search box for schedule D and you will find the instructions and form that you would use for this purpose.
thats my question what is it nowand will it change
Capital Gains Tax Rates Rise and Fall at a zero percent rate if your total income places you in the 10 - 15% tax brackets, this includes Capital Gain Income. This would be at …a 15% rate if your total income places you in the 25% tax bracket or higher, including Capital Gain Income.