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Capital Gains Tax 101 A Beginner S Guide To Understanding The Basics Short-term capital gains taxes apply to assets held for one year or less and are taxed at the investor's ordinary income tax rate, which can be higher Long-term capital gains taxes apply to Asset placement and tax-loss harvesting can reduce the tax burden Katrina Ávila Munichiello is an experienced editor, writer, fact-checker, and proofreader with more than fourteen years of Capital Gains Tax 101: Basic Rules Investors and Others Need Now that we've covered the basics, what tax planning can you do to take advantage of these rules? That's where "tax loss harvesting Americans are increasingly facing capital gains tax when they sell their homes In 2023, "roughly 8%" of home sales were hit with capital gains tax, which marks "more than double the share in 2019
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