Review the list below to know which tax rate to apply to your capital gains.ĭetermine Your Long-Term Capital Gains Rate.
Learn how you can use capital losses to offset capital gains.
If you sold your assets for less than you paid, you have a capital loss.If you sold your assets for more than you paid, you have a capital gain.Subtract your basis (what you paid) from the realized amount (how much you sold it for) to determine the difference.This is the sale price minus any commissions or fees paid. Basis may also be increased by reinvested dividends on stocks and other factors. This is generally the purchase price plus any commissions or fees paid. Also, gains on some types of sales, such as rental real estate and collectibles, may be taxed at different rates. If you realize a profit on assets held one year or less (short-term capital gain), these will be taxed as ordinary income. Keep in mind, the capital gain rates mentioned above are for assets held for more than one year. Let’s take a closer look at the details for calculating long-term capital gains tax.
#Sales tax fl calculator how to#
How to Figure Long-Term Capital Gains Tax Depending on your income level, your capital gain will be taxed federally at either 0%, 15% or 20%. The first step in how to calculate long-term capital gains tax is generally to find the difference between what you paid for your property and how much you sold it for-adjusting for commissions or fees.