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Federal Capital Gains Tax Rates - Current to 2007
By Admin | August 13, 2007
Many people are very surprised to find out that the 15% Federal capital gains tax rate does NOT apply for all transactions.
Yes, there is a 15% Federal capital gains tax rate; however, it does NOT apply for every one.
To help you see the various Federal capital gains tax rates we’ve put together a quick table for you to reference:
Federal Capital Gains Tax Rates: current to 2007
|
Capital Asset Type |
Period of Time Held |
Capital Gains Tax Rate |
| Short-term capital gains (STCG) | One year or less | Ordinary income tax rates up to 35% |
| Long-term capital gains (LTCG) | More than one year | 5% for taxpayers in the 10% and 15% tax brackets |
| 15% for taxpayers in the 25%, 28%, 33%, and 35% tax brackets | ||
| Collectibles | One year or less | STCG tax rates up to 35% |
| Collectibles | More than one year | 28% |
| Small Business Stock Gains (Section 1202) | More than five years | 28% on the gain not excluded |
| Real Estate Main Home | One year or less | STCG |
| More than one year | LTCG taxed at 5% or 15% after any exclusion amount |
As you can see, there are various Federal capital gains tax rates that tax different assets at different rates and different incomes at different rates.
Most everyone falls into the 15% tax rate for appreciated real estate, but make sure before you go through with the sale.
Be sure to bookmark this page or print it off for quick future reference.
Topics: Calculations, Capital Gains, Exit Planning, Selling Real Estate, Selling a Business |
August 13th, 2007 at 8:16 pm
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