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If this question is about the sale of securities and the long term capital gain tax rate for the year 2009 the below would apply and maybe for the year 2010.

Only the amount of long term capital gains plus your other taxable income that stay within your income limit for your filing status will qualify for the zero percent LTCG. You will use the Schedule D Tax Worksheet in the instruction book of the schedule D for this purpose.

$32,550 if single or married filing separately

$65,100 if married filing jointly or qualifying widow(er) or

$43,650 if head of household

For more information and details go to the IRS gov web site and use the search box for 2008 Instructions for Schedule D (2008) go to page 10 for the Schedule D Tax Worksheet

Currently net capital gain is generally taxed at rates no higher than 15%, although, for 2008 through 2010, some or all net capital gain may be taxed at 0%, if it would otherwise be taxed at lower rates. There are three exceptions:

Go to the IRS gov web site and use the search box for Topic 409 Capital Gains and Losses

You can click on the below related link

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Q: What is the value of shares you can sell in 1 year without paying tax?
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