Long-Term Capital Gain (Or Loss): Business and Taxes Definition

Long-Term Capital Gain (Or Loss)

Business / Taxes / Long-Term Capital Gain (Or Loss): When you sell a capital asset that you have owned for more than a year at a higher price than you paid to buy it, any profit on the sale is considered a long-term capital gain. If you sell for less than you paid to purchase the asset, you have a long-term capital loss. Unlike short-term gains, which are taxed at your income tax rate, most long-term gains on most investments, including real estate and securities, are taxed at rates lower than the rates on ordinary income. Currently, those rates are 15% if you?€™re in the 25% tax bracket or higher, and 5% if you are in the 10% or 15% bracket. You can deduct your long-term losses from your long-term gains, and your short-term losses from your short-term gains, to reduce the amount on which potential tax may be due. You may also be able to deduct up to $3,000 in accumulated long-term losses from your ordinary income and carry forward losses you can?€™t use in one tax year to deduct in the next tax year.
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Other Words for Capital

Capital Adjective Synonyms: chief, main, major, important, cardinal, central, principal, prime, primary, paramount, pre-eminent, foremost, leading
Capital Noun Synonyms: head, top, crown, cap
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Other Words for Gain

Gain Noun Synonyms: acquisition, achievement, attainment
Gain Adverb Synonyms: get, obtain, acquire, procure, attain, achieve, secure, earn, win, capture, bag, net, harvest, reap, garner, glean, collect, gather, come by, pick up
Gain Verb Synonyms: catch up (to or on or with), approach, get nearer (to), overtake, close with, close in (on), narrow the gap, gain ground
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