Ask an Accountant
Questions about Capital Gains?
Friday, December 18, 2015
Here are some things to consider.
- The tax rate on net capital gains is a sliding scale from zero to 20 percent depending on the taxpayers’ income level. For most taxpayers, the tax rate on capital gains (and qualified dividends) is no higher than 15 percent.
- Beware of the wash sale rules: buying and selling the same, or substantially same, stock within 30 days results in disallowed losses.