Irs 2023 Capital Gains Tax Rates
The capital gains tax rate is 0%, 15% or 20% on most assets held for longer than a year. Income for 2023 must be more than $1,250 but less than $12,500. Remember, this isn't for the tax return you file in 2023, but rather, any gains you incur from january 1, 2023. That’s a $1,800 increase from the $25,900 standard deduction set for the upcoming tax year.
The standard deduction for married couples filing jointly for the tax year 2023 rises to $27,000 from $25,900 in 2022. Then, the taxpayer is required to pay the higher of the two. Capital gains taxes on assets held for a year or less correspond to ordinary income tax. Capital gains rates for individual increase to 15% for those individuals with income of $44,626 and more ($89,251 for married filing joint, $44,626 for married filing separate, and $59,751 for head.