CAPITAL GAINS TAX RATES: General, the sale or disposition of a capital asset results in capital gain or loss. Capital gains are classified as long-term or short-term. Long-term capital gains are gains in assets that were held for over one year while short-term capital gains come from assets generally held less than one year. Long-term capital gains are taxes at more favorable tax rates than ordinary income, while short-term capital gains are taxed at the same rates as other ordinary income for that taxpayer. For 2018, the long-term capital gains rates have been modified under TCJA. The modifications to capital gain rates only apply for tax years beginning January 1, 2026. Unrecaptured Section 1250 gain will still be taxed at a maximum rate of 25%. Capital gains from the sale of collectibles and qualified small business stock continue to be taxed at the maximum rate of 28%. #CapitalGains #Rates #HeadofHousehold #MarriedFilingJointly #TCJA #LongTermCapitalGains #ShortTermCapitalGains #OrdinaryIncome #StephensBrosTaxService #Modifications https://www.instagram.com/p/BozbeOWBqNl/?utm_source=ig_tumblr_share&igshid=hvesoxlstang
