Federal (IRC)

The tax rate on most net capital gain is no higher than 15% for most individuals. Some or all net capital gain may be taxed at 0% if your taxable income is less than or equal to the threshold for the 0% rate. A capital gains rate of 20% applies to capital gain if your taxable income is more than the threshold set for the 15% capital gain rate.

The NIIT is 3.8% of the amount of net investment income that exceeds the applicable threshold amount. Net investment income generally includes interest, dividends, annuities, royalties, rents, and net capital gains from property held for investment.

The NIIT is 3.8% of the amount of net investment income that exceeds the applicable threshold amount. Net investment income generally includes interest, dividends, annuities, royalties, rents, and net capital gains from property held for investment.

If your capital losses exceed your capital gains, the amount of the excess loss that you can claim to lower your income is the lesser of $3,000 ($1,500 if married filing separately) or your total net loss shown on Schedule D (Form 1040).

Any excess net capital loss can be carried over to subsequent years to be deducted against capital gains and against up to $3,000 of other kinds of income per year until all of the excess net capital loss is used up.

Except as provided in subsection (b), gross income does not include interest on any State or local bond.

Except as provided in subsection (b), gross income does not include interest on any State or local bond.

Stocks and obligations of the United States Government are exempt from taxation by a State or political subdivision of a State. The exemption applies to each form of taxation that would require the obligation, the interest on the obligation, or both, to be considered in computing a tax.

For purposes of this subsection, the term 'net capital gain' means net capital gain (determined without regard to this paragraph) increased by qualified dividend income.

If the amount with respect to which the tentative tax to be computed is over $1,000,000, the tentative tax shall be $345,800 plus 40 percent of the excess of such amount over $1,000,000.

For an estate of any decedent dying in calendar year 2024, the basic exclusion amount is $13,610,000 for determining the amount of the unified credit against estate tax under § 2010.

For an estate of any decedent dying in calendar year 2025, the basic exclusion amount is $13,990,000 for determining the amount of the unified credit against estate tax under § 2010.

Section 70106 of the OBBBA amends § 2010(c)(3) by increasing the basic exclusion amount to $15,000,000 for calendar year 2026.

In the case of gain from the sale to, or exchange with, an eligible taxpayer of any property, at the election of the taxpayer, gross income for the taxable year shall not include so much of such gain as does not exceed the amount invested by the taxpayer in a qualified opportunity fund during the 180-day period beginning on the date of such sale or exchange.

In the case of a taxpayer other than a corporation, gross income shall not include 50 percent (100 percent in the case of qualified small business stock acquired after September 27, 2010) of any gain from the sale or exchange of qualified small business stock.

In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.

Except as otherwise provided in this subtitle, gross income means all income from whatever source derived, including (but not limited to) the following items: (4) Interest.

In the case of residential rental property, the recovery period is 27.5 years.

The portion of any unrecaptured section 1250 gain from selling section 1250 real property is taxed at a maximum 25% rate.

Limits Based on 30% of AGI: Certain capital gain property contributions to 50% limit organizations.

You can carry over any contributions you can't deduct in the current year because they exceed the limits based on your AGI. Except for qualified conservation contributions, you may be able to deduct the excess in each of the next 5 years until it is used up, but not beyond that time.

the dollar amount in effect under clause (i) shall be increased by ... the cost-of-living adjustment.

20 percent of the excess (if any) of (A) the amount which would be treated as ordinary income if such property was section 1245 property, over (B) the amount treated as ordinary income under section 1250.

3 years ... 50% 4 years ... 75% 5 years or more ... 100%

$10,000,000 reduced by the aggregate amount of eligible gain taken into account

Years stock held: 3 years ... Applicable percentage: 50% ... 4 years ... 75% ... 5 years or more ... 100% ... if such stock was acquired by the taxpayer after the applicable date, $15,000,000, reduced by the sum of ... did not exceed $75,000,000

Subparagraphs (A) and (B) of section 1202(d)(1) are each amended by striking "$50,000,000" and inserting "$75,000,000".

Subparagraphs (A) and (B) of section 1202(d)(1) are each amended by striking "$50,000,000" and inserting "$75,000,000".

The amount of the tax imposed by subsection (a) shall be 21 percent of taxable income.

For purposes of paragraph (1), the basic standard deduction is (A) 200 percent of the dollar amount in effect under subparagraph (C) for the taxable year in the case of (i) a joint return, or (ii) a surviving spouse (as defined in section 2(a)), (B) $4,400 in the case of a head of household (as defined in section 2(b)), or (C) $3,000 in any other case.

For purposes of paragraph (1), the basic standard deduction is (A) 200 percent of the dollar amount in effect under subparagraph (C) for the taxable year in the case of (i) a joint return, or (ii) a surviving spouse (as defined in section 2(a)), (B) $4,400 in the case of a head of household (as defined in section 2(b)), or (C) $3,000 in any other case.

For taxable years beginning in 2026, the standard deduction amounts under § 63(c)(2) are as follows: Married Individuals Filing Joint Returns and Surviving Spouses (§ 1(j)(2)(A)) $32,200; Heads of Households (§ 1(j)(2)(B)) $24,150; Unmarried Individuals (other than Surviving Spouses and Heads of Households) (§ 1(j)(2)(C)) $16,100; Married Individuals Filing Separate Returns (§ 1(j)(2)(D)) $16,100.

For taxable years beginning in 2026, the standard deduction amounts under § 63(c)(2) are as follows: Married Individuals Filing Joint Returns and Surviving Spouses (§ 1(j)(2)(A)) $32,200; Heads of Households (§ 1(j)(2)(B)) $24,150; Unmarried Individuals (other than Surviving Spouses and Heads of Households) (§ 1(j)(2)(C)) $16,100; Married Individuals Filing Separate Returns (§ 1(j)(2)(D)) $16,100.

For calendar year 2025, the first $19,000 of gifts to any person (other than gifts of future interests in property) are not included in the total amount of taxable gifts under § 2503 made during that year.

For calendar year 2026, the first $19,000 of gifts to any person (other than gifts of future interests in property) are not included in the total amount of taxable gifts under § 2503 made during that year.

the aggregate amount of taxes taken into account under paragraphs (1), (2), and (3) of subsection (a) and paragraph (5) of this subsection for any taxable year shall not exceed the applicable limitation amount (half the applicable limitation amount in the case of a married individual filing a separate return).

the aggregate amount of taxes taken into account under paragraphs (1), (2), and (3) of subsection (a) and paragraph (5) of this subsection for any taxable year shall not exceed the applicable limitation amount (half the applicable limitation amount in the case of a married individual filing a separate return).

the aggregate amount of taxes taken into account under paragraphs (1), (2), and (3) of subsection (a) and paragraph (5) of this subsection for any taxable year shall not exceed the applicable limitation amount (half the applicable limitation amount in the case of a married individual filing a separate return).

the aggregate amount of taxes taken into account under paragraphs (1), (2), and (3) of subsection (a) and paragraph (5) of this subsection for any taxable year shall not exceed the applicable limitation amount (half the applicable limitation amount in the case of a married individual filing a separate return).