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NLTCGNet Long-Term Capital Gains
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A 25 or 28 percent tax rate can also apply to special types of net long-term capital gains. For most taxpayers, net capital gain is taxed at rates no higher than 15 percent.
For taxpayer; subject to the 39.6 percent income tax rale, the top rate on net long-term capital gains and qualified dividends will permanently rise from 15 percent to 20 percent.
Schedule D and qualified dividend tax computation--Schedule D was used to compute the 5-percent, 15-percent, 25-percent, and 28-percent taxes on net long-term capital gains (in excess of net short-term capital losses) if such computations were beneficial to the taxpayer.
Taxpayers such as Nadine in example 3 above who are thinking about electing to include net long-term capital gains as investment income - thus foregoing the maximum 28% tax rate on these gains should carefully consider this fact.
In its current tax year, it winds up with $3 million of net long-term capital gains (on stocks held for more than one year) and $2 million of net short-term capital gains.
The two major categories of portfolio income that contributed to this increase were interest income, which increased by $5.6 billion, and higher net long-term capital gains, which accounted for another $5.6 billion of the increase.
16 declared a year-end distribution from net long-term capital gains of $1.00 per share, payable on Jan.
Adjusted net capital gain is the net capital gain for the tax year (the excess of net long-term capital gains over net short-term capital losses) less:
Under section 1(h), net long-term capital gains are taxed at lower rates.
These gains are reported separately to partners, allowing them to take advantage of the tax rate on net long-term capital gains (currently, 28%).
Walker told the committee the AICPA supported the reinstatement of tax relief for net long-term capital gains. But, she said, the AICPA opposed the contract's method of indexing certain assets to determine gain or loss.
The dividend and distribution consists of a distribution of USD0.81 per share from net long-term capital gains on securities sold and a dividend of USD0.34 per share from estimated undistributed net investment income for the full year 2015, or a total of USD1.15 per share.