Posted on: 01st Apr, 2006 12:58 pm
Are there different rates for capital gains taxes?
Hi Nick,
Actually there are two types of capital gains due to which you find a difference in rates.
One is long term capital gains rate in which the investments are held for more than 12 months.
The other one is short term capital gains rate in which the investments are held below 12 months.
Blue
Actually there are two types of capital gains due to which you find a difference in rates.
One is long term capital gains rate in which the investments are held for more than 12 months.
The other one is short term capital gains rate in which the investments are held below 12 months.
Blue
On what basis these rates are calculated?
In short term capital gains the tax is at a rate equal to the ordinary income level of the individual tax payers.
The tax rate for long term capital gains is 15%.
The tax rate for long term capital gains is 15%.