Thursday, August 12, 2004

Personal finance Q

Personal finance Q & A - 08/11/04

Personal finance Q & A

Question: When did the capital gains tax rates last change? What are the current capital gains tax rates?

Answer: The current rates apply to sales of assets after May 6, 2003. Capital gains taxes are taxes on an asset that has been held for a certain period, (usually six months to a year) and then sold for a profit.



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