Capital assets, tangible or intangible, appreciate over time, securing long-term financial stability.
long-term vs. short-term, offset with losses. Tax rates tied to income, exceptions like home sales. Consider retirement plans.
Short-term gains (<1 year) taxed like income (10%-37%), while long-term gains (>1 year) get lower rates (0%-20%) to encourage patience in investing.
Cryptocurrency as capital asset, short-term taxed at income rate. Long-term 0-20%. Collectibles >1 yr, up to 28%. Offset gains with strategies.
basis, subtract sale fees, offset losses, consider tax rates, report on Schedule D for tax return.
Federal and state tax rates on capital gains vary by income. States differ, with exemptions or regular income taxation.
Use gains strategies like loss harvesting, long-term holding, charity, 1031 exchange. Consult a tax advisor.