Capital Gains

Capital Gains

Capital Gains from sales after May 5, 2003 will be taxed at no more than 15%. Those in the 10% or 15% rate brackets will pay only 5% on long-term gains from sales after May 5, 2003. There is a maximum rate of 25% for long-term real estate gains attributable to depreciation deductions claimed against your property. Long-term capital gains from sales that occurred before May 6, 2003 will be taxed at a 20% maximum rate. Those in the 10% or 15% rate brackets will pay 10% and 8% for five-year gains.