Long-Term Capital Gains and Losses

Long-Term Capital Gains and Losses

Gains and losses on the sale or exchange of capital assets that have been held for more than 12 months. A net long-term capital gain is the excess of long-term gains over long-term losses, or vice versa for a net long-term capital loss.
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For example, if an individual taxpayer has a net capital gain, the long-term capital gains and losses would be separated into three tax rate groups: 28%, 25% and 20% (10% for gains that otherwise would be taxed at 15%).
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