43.4% Capital Gain Tax? 10 Things To Know
Most income is ordinary, including pay for services, interest, business profits, dividends, money for winning the lottery, and most other payments. But for generations, there’s been a big tax break for long-term capital gains, those held over a year. Assuming you get past one year, if you sell your house, car, crypto stockpile, Amazon AMZN -0.5% stock or other assets, it’s long-term capital gain. Up to now, the tax rate on capital gain has been zero, 15% or 20%, depending on