OFFICER TRUTH
OPCosmoly
:
Capital gains tax rate vs ordinary income tax rate. So capital gains tax is capped at 15% if you hold your position for a rolling 12 months. If you sell before then, you will be taxed on the gains at your ordinary income rate which would be much higher than 15% for wealthy individuals.
Cosmoly : Could you please elaborate on the tax implications? Like how does it affect stock market ? Is it a historic thing or specific to this year
OFFICER TRUTH OP Cosmoly : Capital gains tax rate vs ordinary income tax rate.
So capital gains tax is capped at 15% if you hold your position for a rolling 12 months.
If you sell before then, you will be taxed on the gains at your ordinary income rate which would be much higher than 15% for wealthy individuals.
Cosmoly OFFICER TRUTH OP : Gotcha. Thank you!