What is capital gains tax?

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  • December 29, 2023 at 9:24 pm #29046
    Geoff Massanek
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    December 29, 2023 at 9:27 pm #29072
    Geoff Massanek
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    Taxes paid when you sell assets like stocks and bonds for profit. The Internal Revenue Services (IRS) considers this as income. The tax you pay depends on the filing status, taxable income,a dn age of the asset (how long the seller owned it). 

    The capital gains tax rate can be 0%, 15%, or 20% if you’ve held the asset for more than a year. Taxes on assets held for a year or less are considered within ordinary income tax brackets. If an asset is held for longer, the profits from it are known as long-term capital gains. Assets held for a year or less are considered short-term capital gains.

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StellarFinance, Inc. and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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