Replies to post #954 on Synergy and Friends custodian plays

[Mr. Zen]

Really? My short term capital gains are taxed at 37% last year and my long term were taxed at 10%.

I will be the first to admit I made a mistake, so just give me some proof...

here's mine...https://turbotax.intuit.com/tax-tips/investments-and-taxes/guide-to-short-term-vs-long-term-capital-gains-taxes-brokerage-accounts-etc/L7KCu9etn

• Profits you make from selling most assets are known as capital gains, and they are generally taxed at different rates depending on how long you have held the asset.

• Gains you make from selling assets you’ve held for a year or less are called short-term capital gains, and they generally are taxed at the same rate as your ordinary income, anywhere from 10% to 37%.

• Gains from the sale of assets you’ve held for longer than a year are known as long-term capital gains, and they are typically taxed at lower rates than short-term gains and ordinary income, from 0% to 20%, depending on your taxable income.

• If your investments end up losing money rather than generating gains, you can use those losses to reduce your taxes.

The U.S. Government taxes different kinds of income at different rates. Some types of capital gains, such as profits from the sale of a stock that you have held for a long time, are generally taxed at a more favorable rate than your salary or interest income. However, not all capital gains are treated equally. The tax rate can vary dramatically between short-term and long-term gains. Understanding the capital gains tax rate is an important step for most investors.