By: Amanda Wilson
Following up on my post from last week, presidential candidate Hillary Clinton has now provided more specific information on her proposed capital gains rates hike.
For high income filers (couples making at least $465,000 a year), the current 20% capital gains tax rate would not be available for investments held only for one year. Instead, the following rates would apply:
- 39.6% tax rate for investments held more than 1 year but less than 2 years
- 36% tax rate for investments held more than 2 years but less than 3 years
- 32% tax rate for investments held more than 3 years but less than 4 years
- 28% tax rate for investments held more than 4 years but less than 5 years
- 24% tax rate for investments held more than 5 years but less than 6 years
- 20% tax rate for investments held 6 or more years
The existing 3.8% Medicare contribution tax would also continue to apply.
