Profits you earn from the sale of most assets are taxed as capital gains by the federal government. Gains from the sale of assets held for more than a year are deemed “long-term” capital gains which are typically taxed at lower rates than gains on assets held less than for one year (short-term capital gains). The sale of investment property held for rental purposes is subject to federal capital gains tax. Find your long-term capital gains tax rate.
Profits you earn from the sale of most assets are taxed as capital gains by the federal government. Gains from the sale of assets held for more than a year are deemed “long-term” capital gains which are typically taxed at lower rates than gains on assets held less than for one year (short-term capital gains). The sale of investment property held for rental purposes is subject to federal capital gains tax. Find your long-term capital gains tax rate.
All but a few states apply a capital gains tax on the sale of most assets. When calculating your tax on the appreciated value of the asset you’re selling, be sure to include any appropriate state tax with your federal capital gains tax. The sale of investment property held for rental purposes is subject to capital gains tax in most states. Find your state tax rate.
All but a few states apply a capital gains tax on the sale of most assets. When calculating your tax on the appreciated value of the asset you’re selling, be sure to include any appropriate state tax with your federal capital gains tax. The sale of investment property held for rental purposes is subject to capital gains tax in most states. Find your state tax rate.
In addition to federal and state capital gains taxes, high-income taxpayers may be subject to an additional surtax of 3.8% on their net investment income if their modified adjusted gross income (MAGI) exceeds certain thresholds. Net investment income includes items like interest, dividends, short and long-term capital gains, business activities that are treated as passive income, and rental income from investment property.
In addition to federal and state capital gains taxes, high-income taxpayers may be subject to an additional surtax of 3.8% on their net investment income if their modified adjusted gross income (MAGI) exceeds certain thresholds. Net investment income includes items like interest, dividends, short and long-term capital gains, business activities that are treated as passive income, and rental income from investment property.
This calculator is for informational purposes only and is designed to give a simplified answer regarding the taxes you may owe based on the input you provide regarding capital gain(s) or losses. The calculated results should not be relied upon as legal or tax advice. Please consult a tax professional for specific information regarding your individual situation. Capital gains rates are subject to change depending on Congressional action. Federal taxes on your net capital gain(s) may vary depending on your marginal income tax bracket and the holding period of the asset. State taxes may vary depending on your residency.
| Tax Rate | 0% | 15% | 20% |
|---|---|---|---|
| Filing Status | Taxable Income | ||
| Single | Up to $41,675 | $41,676 to $459,750 | Over $459,750 |
| Head of household | Up to $55,800 | $55,801 to $488,500 | Over $488,500 |
| Married filing jointly | Up to $83,350 | $83,351 to $517,200 | Over $517,200 |
| Married filing separately | Up to $41,675 | $41,676 to $258,600 | Over $258,600 |
Source: turbotax.com
| State | Capital Gains Tax Rate (%) |
|---|---|
| Alabama | 5.00 |
| Alaska | 0.00 |
| Arizona | 4.54 |
| Arkansas | 6.90 |
| California | 13.30 |
| Colorado | 4.63 |
| Connecticut | 6.99 |
| Delaware | 3.40 |
| Florida | 0.00 |
| Georgia | 5.75 |
| Hawaii | 11.00 |
| Idaho | 6.93 |
| Illinois | 4.95 |
| Indiana | 3.23 |
| Iowa | 8.53 |
| Kansas | 5.70 |
| Kentucky | 5.00 |
| Louisiana | 6.00 |
| Maine | 7.15 |
| Maryland | 5.75 |
| Massachusetts | 5.05 |
| Michigan | 4.25 |
| Minnesota | 9.85 |
| Mississippi | 5.00 |
| Missouri | 5.40 |
| Montana | 6.90 |
| Nebraska | 6.84 |
| Nevada | 0.00 |
| New Hampshire | 0.00 |
| New Jersey | 10.750 |
| New Mexico | 4.90 |
| New York | 8.82 |
| North Carolina | 5.25 |
| North Dakota | 2.90 |
| Ohio | 5.00 |
| Oklahoma | 5.00 |
| Oregon | 9.90 |
| Pennsylvania | 3.07 |
| Rhode Island | 5.99 |
| South Carolina | 7.00 |
| South Dakota | 0.00 |
| Tennessee | 0.00 |
| Texas | 0.00 |
| Utah | 4.95 |
| Vermont | 9.75 |
| Virginia | 5.75 |
| Washington | 0.00 |
| West Virginia | 6.50 |
| Wisconsin | 7.65 |
| Wyoming | 0.00 |
Source: worldpopulationreview.com