| Would you like to know what is considered
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| | 5%.
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| capital gains by the IRS? Would you like
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| | How do I know if I have a short term or
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| to know how much it might cost you?
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| | long term gain? To determine whether you
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| Capital gains is what the IRS says is
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| | have a long or short term capital gain is
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| your profit when you sell something that
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| | quite simple. Property that you own for
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| is defined as a capital asset. Real
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| | less than one year is defined as short
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| estate, mutual fund shares, stocks, and
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| | term. Property that you own for more than
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| bonds are all considered capital assets.
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| | one year is defined as long term.
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| If you inherited a home or real estate
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| | What if I lost money?
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| you might be subject to the capital gains
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| | If you lost money on a capital asset it
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| tax.
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| | can be deducted on your taxes. Money that
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| How Much is The Capital Gains Tax Rate?
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| | you lost on an investment is used first
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| Your tax will depend on a few things. If
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| | against profits you've made on another
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| you have a short term capital gain you
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| | investment. Short term and long term
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| will be taxed at your normal tax rate.
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| | capital losses can both be deducted but
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| However, if you have a long term gain you
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| | there are certain rules for each type of
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| will be taxed at 15%. If you are in a tax
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| | capital gain.
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| bracket of 14% or less you'll be taxed at
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