ilmscore | Prediction Details
"Long-term capital gains rates are a lower tax rate that you get when you invest your money, and I mean, actually invest your money for longer than a year. If you're just trading your money, meaning you're holding investments for less than a year, you don't get those tax breaks. Now, the money that you earn from your investments, your investments that you hold onto less than a year are going to be taxed at the same tax rates that you would have gotten if you earned this money from a job... if you make $44,000 in your capital gains, long-term capital gains, your tax rate is zero. And the highest tax rate in 2022 on long-term capital gains rates is 20%. So if you make a million dollars from your investments, the most you're going to pay is 20% in taxes."
By Minority Mindset | November 12, 2023 | Pending
From video
How The Wealthy Pay No Taxes (And How You Can Too) | Jaspreet Singh 00:17:14 - 00:19:16
Interpreted Prediction
Investments held for over a year qualify for lower long-term capital gains tax rates (up to 20% in 2022) compared to short-term gains or ordinary income (up to 40%). Investments held less than a year are taxed at ordinary income rates. For 2022, long-term capital gains up to $44,000 for an individual were taxed at 0%.

Prediction Details

Topic
Long-Term Capital Gains Tax Rates

Comments

0 comments

Be the first to share your thoughts.

Like this prediction?

Join to make your opinion count.