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At this time August 8 2010 for the sale of a personal asset (non-business) the below enclosed information would apply to a long term capital gain on the sale of a PERSONAL ASSET.
Sale of a business asset will be different.
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 page 10 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 2009
Instructions for Schedule D (2009) 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 2009 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
What else can I help you with?
How much is the US capital gains tax?
Capital gain taxes are based in large part on your ordinary tax rate.... * Ordinary tax rate 10%, long term capital gains tax 0%, short term capital gains tax 10% * Ordinary tax rate 15%, long term capital gains tax 0%, short term capital gains tax 15% * Ordinary tax rate 25%, long term capital gains tax 15%, short term capital gains tax 25% * Ordinary tax rate 28%, long term capital gains tax 15%, short term capital gains tax 28% * Ordinary tax rate 33%, long term capital gains tax 15%, short term capital gains tax 33% * Ordinary tax rate 35%, long term capital gains tax 15%, short term capital gains tax 35%
What is the Georgia state capital gains tax rate?
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.
What is the new rate for capital gains tax, which recently increased from 15 to 28?
The new rate for capital gains tax is now 28, up from the previous rate of 15.
How do I figure out my capital gains tax?
To calculate your capital gains tax, subtract the cost basis of your investment from the selling price to determine the capital gain. Then, apply the appropriate tax rate based on how long you held the investment. Short-term capital gains are taxed at your ordinary income tax rate, while long-term capital gains are taxed at a lower rate.
What is the capital gains tax rate in Ireland?
25%.
How do you compute capital gains tax?
To compute capital gains tax, subtract the original purchase price of an asset from the selling price to determine the capital gain. Then, apply the capital gains tax rate to the gain to calculate the tax owed.
What is the California Capital Gains Rate?
California capital gains tax is not different from tax on other forms of income. The rate for income above approximately $48,000 is 9.3%
How do you calculate capital gains tax on investments?
To calculate capital gains tax on investments, subtract the purchase price of the investment from the selling price to determine the capital gain. Then, apply the capital gains tax rate to the gain to determine the tax owed.
Do you pay capital gains on dividends?
No, you do not pay capital gains tax on dividends. Dividends are typically taxed at a different rate than capital gains.
How can one avoid long-term capital gains tax?
One way to avoid long-term capital gains tax is to hold onto an investment for at least one year before selling it. This can qualify you for the lower long-term capital gains tax rate, which is typically lower than the short-term capital gains tax rate.
What is the capital gain tax rate?
The capital gains tax rate is the tax rate applied to the profit made from the sale of an asset, such as stocks, bonds, or real estate. The rate can vary depending on the type of asset and how long it was held before being sold. In the United States, the capital gains tax rate can range from 0% to 20%, with different rates for short-term gains (assets held for one year or less) and long-term gains (assets held for more than one year).
How do you figure capital gains tax on investment profits?
To calculate capital gains tax on investment profits, subtract the purchase price of the investment from the selling price to determine the capital gain. Then, apply the capital gains tax rate to the gain to determine the tax owed.
