Short Term Capital Gains Tax 2024 Chart

Short Term Capital Gains Tax 2024 Chart. These taxes create a bias against saving, leading to a lower level of national income by encouraging present consumption over investment. Capital gains taxa capital gains tax is levied on the profit made from selling an asset and is often in addition to corporate income taxes, frequently resulting in double taxation.

These gains are taxed at your ordinary income tax rates, which range up to 37%. Refers to the profit earned from the sale of an asset, such as a home, that was owned for one year or less before being sold.