Income ttax II

What is a capital gain?

• Profit made from selling assets

• Interest earned on savings account

• Rental incomeWages from

• Wages from employment

What is the long-term capital gain tax rate for individuals?

• 0%

• 15%

• 20%

• 25%

How is long-term capital gain taxed for corporations?

• 0%

• 15%

• 20%

• 25%

What is the holding period for determining long-term capital gains?

• 6 months

• 1 year

• 2 year

• 3 year

What is the short-term capital gain tax rate for individuals?

• 0%

• 15%

• 20%

• 39.6%