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So Much to Gain: What Are the Short-Term and Long-Term Capital Gains Tax Rates? Income Thresholds, Tax Brackets and More

So Much to Gain: What Are the Short-Term and Long-Term Capital Gains Tax Rates? Income Thresholds, Tax Brackets and More

High income thresholds mean I earn more without paying as much in capital gains taxes? Score! Oh, wait, that’s just inflation.

The capital gains tax rates don’t actually change. What does change is how income levels decide which federal income tax bracket you fall into. In other words, how much you can earn before you fall in a new income bracket and pay a greater taxable capital gain rate.

The capital gain rates you pay are based on your income taxes. The Internal Revenue Service (IRS) increases the income thresholds that change which tax bracket you fall into, which effectively changes whether you qualify for a high capital gains tax rate or for a 0% long-term capital gains tax rate.

Long-Term Capital Gains Tax Rates and Their Taxable Income Thresholds

The long-term capital gain tax rates are simple: 0%, 15%, or 20%. The rate you pay is based on where you fall based on the IRS income thresholds and your tax filing status. The maximum rate is 20%, if you held onto real property or other capital assets for longer than a year—and you earned $518,901 or more as a single person during the 2024 tax year.

Married filing jointly has the highest thresholds; if you’re married filing a joint tax return, you won’t pay long-term capital gains taxes unless your income reaches the minimum threshold of $89,251 for 2023 or $94,050 for 2024. Head of household is a middle-range tax bracket, offering thresholds between joint filers and single or married filing separately statuses. Individual earners face the lowest income thresholds. If they earned $44,626 in 2023, they’ll pay 15% capital gain rates. If they earn $518,901, they’ll pay 20% in capital gains.

Taxable Income and Long-Term Capital Gains Rates for the 2023 Tax Year

  • For Single Filers
    • 0% if your taxable income is $0 to $44,625
    • 15% if your taxable income is $44,626 to $492,300
    • 20% if your taxable income is $492,301 or more
  • For Married Filing Jointly
    • 0% if your taxable income is $0 to $89,250
    • 15% if your taxable income is $89,251 to $553,850
    • 20% if your taxable income is $553,851 or more

Taxable Income and Long-Term Capital Gains Rates for 2024

  • For Single Filers
    • 0% if your taxable income is $0 to $47,025
    • 15% if your taxable income is $47,026 to $518,900
    • 20% if your taxable income is $518,901 or more
  • For Married Filing Jointly
    • 0% if your taxable income is $0 to $94,050
    • 15% if your taxable income is $94,051 to $583,750
    • 20% if your taxable income is $583,751 or more

¿Existen excepciones a los impuestos sobre las ganancias de capital a largo plazo?

Las tasas de impuestos para las ganancias a largo plazo son mejores que las de corto plazo. Con algunas excepciones, por supuesto. Las ganancias procedentes de objetos de colección como arte, monedas y antigüedades están sujetas a una tasa de impuestos sobre las ganancias de capital más elevada, del 28%. Además, la sobretasa del 3.8% del impuesto sobre los ingresos netos de inversión se aplica a ciertas ventas de inversiones si sus ingresos superan determinados umbrales.

Las acciones de pequeñas empresas que califiquen como activos de la sección 1202 pueden ser gravadas a una tasa máxima del 28% de ganancias de capital.

La venta de objetos de colección, como monedas, obras de arte o cómics, puede invitarle a una tasa máxima del 28% de ganancias de capital por un activo a largo plazo.

Selling depreciable real property (think barns, commercial buildings, warehouses, etc.) can get you a maximum 25% capital gain rate on those assets. Consult a financial advisor about whether your property qualifies as a Section 1250 property.

Different types of assets may also be subject to their own specific form of capital gains tax, such as real estate. Special rules may also apply for primary residences, rental properties, and other types of properties. It’s important to consult a tax advisor or financial advisor to fully understand the tax implications of any investment or sale of assets.

Short-Term Capital Gains Tax Rates and Their Taxable Income Thresholds

Short-term capital gains taxes are paid on assets you held for one year or less, including stocks, collectibles, crypto, or even real property (if you’re into flipping houses. The rules are a little different for your primary residence.)

Short-term capital gains tax rates follow regular income tax brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37%.

Taxable Income Levels and Short-Term Capital Gains Tax Rates for the 2023 Tax Year

  • For Single Filers
    • 10% if your taxable income is $0 to $11,000
    • 12% if your taxable income is $11,000 to $44,725
    • 22% if your taxable income is $44,726 to $95,375
    • 24% if your taxable income is $95,376 to $182,100
    • 32% if your taxable income is $182,101 to $231,250
    • 35% if your taxable income is $231,251 to $578,125
    • 37% if your taxable income is $578,126 or more
  • For Married Filing Jointly
    • 10% if your taxable income is $0 to $22,000
    • 12% if your taxable income is $22,001 to $89,450
    • 22% if your taxable income is $89,451 to $190,750
    • 24% if your taxable income is $191,751 to $364,200
    • 32% if your taxable income is $364,201 to $462,500
    • 35% if your taxable income is $462,501 to $693,750
    • 37% if your taxable income is $693,751 or more

Taxable Income and Long-Term Capital Gains Tax Rates for the 2024 Tax Year

  • For Single Filers
    • 10% if your taxable income is $0 to $11,600
    • 12% if your taxable income is $11,601 to $47,150
    • 22% if your taxable income is $47,151 to $100,525
    • 24% if your taxable income is $100,526 to $191,950
    • 32% if your taxable income is $191,951 to $243,725
    • 35% if your taxable income is $243,726 to $609,350
    • 37% if your taxable income is $609,351 or more
  • For Married Filing Jointly
    • 10% if your taxable income is $0 to $23,200s
    • 12% if your taxable income is $23,201 to $94,300
    • 22% if your taxable income is $94,301 to $201,050
    • 24% if your taxable income is $201,051 to $383,900
    • 32% if your taxable income is $383,901 to $487,450
    • 35% if your taxable income is $487,451 to $731,200
    • 37% if your taxable income is $731,201 or more

Calculating your actual taxable gain can be complicated, as it depends on your filing status, type of asset, and income level. Uncle Sam may be entitled to a share of your gains, but it’s up to you to minimize it and keep more of your hard-earned money.

Cómo funcionan los impuestos sobre las ganancias de capital

Capital gains taxes are a type of tax on the profits generated from the difference between the cost basis and the sale price of a capital asset. If you bought a stock for $2,000 and sold it for $4,000, the difference is a net gain in your income — and subject to income taxes. A capital asset is any asset owned by an individual or business, such as real estate, stocks, or precious metals.

Short-term gains are generated from assets that have been held for less than one year while long-term gains are generated from assets that have been held for more than one year. The tax rates for these two types of gains differ, with short-term gains taxed at the same rate as an individual’s ordinary income tax rate, while long-term gains are taxed at a lower rate.

The tax owed on a capital gain depends on an individual’s income and their tax bracket. For example, if an individual falls into the highest tax bracket, they will owe a higher percentage of their long-term gains in taxes than an individual in a lower tax bracket.

La base de costo de un activo es el precio de compra original del activo, mientras que las mejoras de capital son gastos incurridos para aumentar el valor del activo. Ambos factores se tienen en cuenta a la hora de calcular la ganancia de capital de un activo.

What’s considered a capital gain?

Las ganancias de capital son las ganancias obtenidas tras la venta de un activo como acciones, bonos, propiedades inmobiliarias u objetos de colección. Las ganancias se consideran ingresos gravables por el IRS y, por lo tanto, están sujetas al impuesto sobre las ganancias de capital. Cualquier activo que se revalorice con el tiempo y genere un beneficio al venderse se considera una ganancia de capital y está sujeto a impuestos sobre la ganancia.

Por ejemplo, si un individuo comprara una casa por $200,000 y más tarde la vendiera por $300,000, tendría una ganancia de $100,000 y estaría obligado a pagar impuestos sobre esa ganancia. Del mismo modo, si un individuo compró acciones por $10,000 y más tarde las vendió por $20,000, tendría una ganancia de $10,000.

Las reglas de ganancias especiales se aplican a activos especiales. Piense en propiedades inmobiliarias o coleccionables raros, como cómics o monedas raras. En el caso de las propiedades inmobiliarias, si se han utilizado como residencia principal durante al menos dos de los últimos cinco años, una pareja casada que presente una declaración conjunta puede excluir de su declaración de impuestos hasta $500,000 de ganancias. En el caso de los objetos de colección, como las obras de arte o los metales preciosos, se gravan a una tasa superior del 28%, en lugar de la tasa estándar del impuesto sobre las ganancias de capital.

Impuesto sobre las ganancias de capital: Corto plazo vs. largo plazo

Capital gains tax is a tax on the profits that an individual or entity earns from selling assets like stocks, real estate, and collectibles. The amount of tax owed on these gains varies depending on how long the asset was held before being sold. Short-term capital gains refer to assets owned for less than a year, while long-term capital gains refer to assets owned for more than a year. The difference in tax rates between the two types of gains can have a significant impact on an individual’s tax liability. In this article, we will explore the differences between short-term and long-term capital gains tax rates, and how they can affect investment strategy.

Estrategias para el impuesto sobre las ganancias de capital: Cómo compensar los impuestos sobre las ganancias de capital

Capital gains taxes can significantly reduce your investment returns. Understanding how to avoid, reduce, or minimize these taxes is essential for any investor. In this article, we will cover some strategies to help you minimize your capital gains tax liabilities. Whether you’re a seasoned investor or just getting started, these tips could save you thousands of dollars in the long run. From understanding the types of assets that can be subject to capital gains taxes to exploring tax-loss harvesting techniques, read on to learn more about how you can minimize your capital gains taxes.

Capital losses: It’s not all bad.

When it comes to taxes, capital losses can play an important role in reducing your overall tax burden. If you’ve sold an investment for less than you purchased it for, you’ve incurred a capital loss. This loss can be used to offset any gain you may have earned in the same year, reducing the amount of taxes owed on that income. Now, long-term capital losses can sting the ego, but it also can offset any other major gains from assets you’ve held for longer than a year. In essence, that’s tax-loss harvesting. Such a strategy contains a bit of a risk: If Congress changes the tax code in a substantial way, your financial losses might never turn to your tax gains.

Si sus pérdidas superan a sus ganancias, puede trasladar las pérdidas restantes a futuros años fiscales. Sin embargo, existen algunas limitaciones en el uso de las pérdidas de capital. Los contribuyentes sólo pueden reclamar hasta $3,000 en pérdidas de capital por año, y cualquier pérdida no utilizada puede trasladarse al siguiente año fiscal.

It’s important to note that capital losses and gains receive the same tax treatment, and only the net capital losses can be used to offset income. For example, if you have $5,000 in capital gains and $3,000 in capital losses, you would only owe taxes on $2,000 of the capital gains.

En general, las pérdidas de capital pueden ser una herramienta valiosa para reducir su deuda fiscal, pero existen limitaciones y reglas que debe conocer. Consultar a un asesor fiscal o a un profesional de las finanzas puede ayudarle a sacar el máximo partido de sus pérdidas.

Fuentes

Long Term Capital Gains Tax Explained For Beginners” – ClearValue Tax


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