Capital gains tax in the United States is tax that individuals and corporations pay the federal government on the net total of all their capital gains. The tax rate depends on both the person's tax bracket and the amount of time the asset was held.
Quotes
- I changed my mind about living here [won't cut it]
- Stephen Fishman, J.D. "voiding Capital Gains Tax When Selling Your Home: Read the Fine Print" (The law applies to home sales after May 6, 1997.)
- Next year, all my capital gains may be subject to a 25% cap gains rate
- FitzPatrick "The super rich are preparing for the end of the world" (January 25, 2017)
- Well, that’s the ordinary income. These great fortunes were not made through ordinary incomes. So you probably have to look to the capital gains rate and the estate tax if you want to, you know, create more equity there.
- Bill Gates, responding to Stephen Colbert's question about Alexandria Ocasio-Cortez's proposal of a 70% marginal tax rate, February 13, 2019
- The proposal includes a 3% surcharge on individual income above $5 million and a capital gains tax of 25%.
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