How the United States taxes short-term and long-term capital gains, the 0%, 15% and 20% long-term rates for tax year 2025, and the net investment income tax.
Primary source: Federal income tax rates and brackets (IRS).
This explainer sets out us capital gains tax: short-term and long-term as published by the Internal Revenue Service, with the figures preserved under the tax year they apply to. It is written against the primary source rather than summarised from memory, and every material figure links back to the Internal Revenue Service publication that carries it.
The rules described here apply to United States. Where a rate or threshold has changed, the effective date is stated so the earlier figure can be read alongside the rule that replaced it.