Long-term Capital Gains Tax Rates

[James H. Shaw]

Hello all,

I would like to know what the curent long-term capital rates are.
I believe, but am not certain, that the three rates for long-term cap
gains are:

10%
20%
28%

Can someone please let me know at what income points these rates
kick in?

Thank you,
Diane
diane...@yahoo.com

[Art Kamlet]

In article <8n97p9$6mu$1...@cnn.Princeton.EDU>,

James H. Shaw <jim...@phoenix.Princeton.EDU> wrote:
>I would like to know what the curent long-term capital rates are.
>I believe, but am not certain, that the three rates for long-term cap
>gains are:
>
>10%
>20%
>28%

If you are talking about ordinary stocks and bonds, publicly traded,
then you are taxed at 10% until you reach the upper limit of the
15% tax bracket, and at 20% above that.

Your other question about where the tax bracket breaks occur has
been answered -- see the 1999 or 2000 Form 1040ES at www.irs.gov

>Can someone please let me know at what income points these rates
>kick in?
>
>Thank you,
>Diane

--
Art Kamlet Columbus, Ohio kam...@infinet.com

[James H. Shaw]

kam...@infinet.com writes:
>James H. Shaw <jim...@phoenix.Princeton.EDU> wrote:
>>I would like to know what the curent long-term capital rates are.
>>I believe, but am not certain, that the three rates for long-term cap
>>gains are:

>>10%
>>20%
>>28%

>If you are talking about ordinary stocks and bonds, publicly traded,

Well, this is indeed good news. For some reason, I was under the
impression that the LT Cap Gains were subject to a 3-tier system of
taxation.

Maybe I was confused with LT vs ST Gains. Is the MAX Cap Gains rate for
ST gains 28%? That may be what I was thinking of.

>then you are taxed at 10% until you reach the upper limit of the
>15% tax bracket, and at 20% above that.
>
>Your other question about where the tax bracket breaks occur has
>been answered -- see the 1999 or 2000 Form 1040ES at www.irs.gov

Thanks for all of the tax advice. I went over to the IRS web page and
found most everything I needed.

Diane
diane...@yahoo.com

[Rich Carreiro]

jim...@phoenix.Princeton.EDU (James H. Shaw) writes:

> Well, this is indeed good news. For some reason, I was under the
> impression that the LT Cap Gains were subject to a 3-tier system of
> taxation.

They were, for 8 months in 1997.

> Maybe I was confused with LT vs ST Gains. Is the MAX Cap Gains rate for
> ST gains 28%? That may be what I was thinking of.

No. There is no max rate for short-term gains. They are
treated and taxed as ordinary income.

--
Rich Carreiro rlc...@animato.arlington.ma.us

[Art Kamlet]

In article <8nbqd0$5g0$1...@cnn.Princeton.EDU>,

James H. Shaw <jim...@phoenix.Princeton.EDU> wrote:
>kam...@infinet.com writes:
>>James H. Shaw <jim...@phoenix.Princeton.EDU> wrote:
>>>I would like to know what the curent long-term capital rates are.
>>>I believe, but am not certain, that the three rates for long-term cap
>>>gains are:
>
>>>10%
>>>20%
>>>28%
>
>>If you are talking about ordinary stocks and bonds, publicly traded,
>
>

>Well, this is indeed good news. For some reason, I was under the
>impression that the LT Cap Gains were subject to a 3-tier system of
>taxation.
>

>Maybe I was confused with LT vs ST Gains. Is the MAX Cap Gains rate for
>ST gains 28%? That may be what I was thinking of.

You might either be thinking of

a) the ill-conceived three-tier scheme including a "mid-term"
28% level that actually was in effect for part of 1997, before
an outcry to Congress persuaded then to go back to the short and
long term definitions, or

b) the current Schedule D, which lists a column (g) for 28% long
term gains. That applies to collectibles -- stamp or coin
collections, for example.