Capital Gains & Capital Gains Tax

How were Capital Gains Tax Rates Lowered by JGTRRA 2003 Tax Act?

The Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA 2003) made extensive changes to the long term capital gains tax rates through 2008 and the changes are summarized below.

For sales made on or after May 6, 2003 and prior to 2009, under the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA 2003)the capital gains tax rates are:

Holding Period	Capital Gains Tax Rates
Long-Term (more than one year)	15% (5% for taxpayers in the 15% or lower tax brackets, but in 2008 the 5% rate drops to 0%)
Short-Term (one year or less)	Marginal income tax bracket

Everything Old is New Again

Starting in 2009, the capital gains tax rates rules will revert to what they were prior to JGTRRA 2003, and will be:

Holding Period	Capital Gains Tax Rates
Long-Term (more than one year)	20% (10% for a taxpayer in the 15% or lower bracket)
Long-Term (more than five years)	18% (8% for a taxpayer in the 15% or lower bracket)
Short-Term (one year or less)	Marginal income tax bracket

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How were Capital Gains Tax Rates Lowered by JGTRRA 2003 Tax Act?

Everything Old is New Again

Holding Period

Capital Gains Tax Rates

TAX HELP