Capital Gains Tax Rate
January 11th, 2009
Question: How long do I have to hold a stock in order to qualify for the lower Long Term Capital Gains tax rate?
I have a large portfolio of stocks that I bought several months ago and I have huge profits on paper. If I sell now, I will have to pay a 28% cap gains tax on it, so I am wondering how long I should hold these stocks in order to qualify for the much lower long term cap gains tax rate. Thanks for your help.
Answer: If you hold a capital asset for a year and a day, then you qualify for the 15% long-term capital gains rate.
Do you think your portfolio of stocks will go up or down between now and then? If down, do you know how to short stocks to lock in your gain? Hire a stock advisor to help you to hedge your portfolio if needed.
Capital Gains Tax an idea in health debate
White House budget director says a proposal to apply Medicare taxes to capital gains is “in play” as part of health care legislation.
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