Discover published sets by community

Explore tens of thousands of sets crafted by our community.

Categories

Business and Finance

Taxation

Charitable Contributions and Taxes

Common Tax Filing Mistakes

Cryptocurrency Taxation

Eligible Educational Tax Breaks

Estate and Gift Tax Fundamentals

Filing Taxes as an Expat

Healthcare and Taxes

IRS Tax Forms and Uses

Inheritance Tax vs. Estate Tax

Nonprofit Tax Compliance

Payroll Taxes Explained

Understanding AMT (Alternative Minimum Tax)

VAT (Value-Added Tax) Essentials

Understanding Capital Gains Tax

U.S. Federal Income Tax Basics

Real Estate Tax Deductions

Sales Tax Across U.S. States

Self-Employment Tax Essentials

Small Business Deductions

State Income Tax Comparisons

Tax Terms Glossary

Tax Planning Strategies

Tax Deductions for Individuals

Tax Credits Overview

Tax-Advantaged Retirement Accounts

Taxation of Investments

Tax Considerations for Freelancers

Tax Brackets and Rates

Tax Audit Triggers

Standard versus Itemized Deductions

Understanding Capital Gains Tax

Flashcards

0/10

Still learning

Short-Term Capital Gain

Taxed as ordinary income based on tax brackets, which can range from 10% to 37%.

Short-Term Capital Gain for a Low-Income Earner

Taxed at ordinary income rates, which could be as low as 10% if the taxpayer falls into the lowest tax bracket.

Capital Loss Deduction Limits

Limited to $3,000 per year against ordinary income if losses exceed gains, with the ability to carry forward unused losses.$

Long-Term Capital Gains With Investment Income Tax

In addition to the base rate (0%, 15%, or 20%), a 3.8% Net Investment Income Tax may apply for individuals earning over a certain threshold.

Short-Term Capital Gain for High-Income Earners

Taxed at the same rates as ordinary income, potentially at the top marginal rate of 37%.

Long-Term Capital Gain

Preferentially taxed at 0%, 15%, or 20%, depending on the taxpayer's income.

Real Estate Long-Term Capital Gain

Potentially reduced by the primary residence exclusion of up to $250,000 (or$ 500,000 for married couples filing jointly).

Depreciable Real Property (Unrecaptured Section 1250 Gain)

Taxed at a maximum 25% rate if it exceeds straight-line depreciation.

Collectible Assets Long-Term Capital Gain

Taxed at a maximum rate of 28%, whether the taxpayer is high or low-income.

Long-Term Capital Gains for Low to Middle-Income Earners

Potentially taxed at 0% if taxable income falls below certain thresholds.

Know

Still learning

Click to flip

Know