How are capital gains taxed in 2023 & 2024?

Based on filing status and taxable income, long-term capital gains for tax year 2023 and 2024 will be taxed at 0%, 15% and 20%. Short-term gains are taxed as ordinary income based on your personal income tax bracket. After federal capital gains taxes are reported through IRS Form 1040, state taxes may also be applicable.

How are capital gains taxed in Arizona?

Arizona taxes capital gains as income, and both are taxed at the same rate of 2.5%. In Arkansas, 50% of long-term capital gains are treated as income and both are taxed at the same rates. All short-term capital gains are treated as income and 100% of these gains are taxed. Tax rates are the same for every filing status.

How are capital gains taxed in Colorado?

Colorado taxes capital gains as income and both are taxed at the same rates. The state income and capital gains tax is a flat rate of 4.4%. Capital gains are taxed at 7% in Connecticut. Delaware taxes capital gains as income and both are taxed at the same rates. Tax rates are the same for every filing status.