Remember capital gains or losses
at tax time
Radio Transcript, 60 seconds, for use during week
of Jan. 14.
This is an Invest Wisely minute brought to you by Iowa State
Remember capital gains or losses at tax time. And consider that
there is a difference between a long-term capital gain or loss,
and a short-term gain or loss.
Long-term means you have owned the asset for more than 12 months.
For taxpayers in the lowest two tax brackets, these gains are
taxed at 5 percent in 2007. All other taxpayers pay 15 percent.
Short-term gains or losses occur if the asset is held for 12
months or less and then sold. Short-term gains are taxed
the same as regular income.
Invest Wisely comes from Iowa State University Extension
through a grant from the Investor Protection Trust providing
investor education on the web at investorprotection.org.