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28-06-2024
Business

Answered

Short-term capital gains are taxed at the same tax rate as your ordinary income tax rate.

A. True
B. False

Answer :

GinnyAnswer GinnyAnswer

28-06-2024

Final answer:

Short-term capital gains are not taxed at the same rate as ordinary income tax.

Explanation:

False. Short-term capital gains are taxed at the same tax rate as your ordinary income tax rate. For example, if you fall into the 22% tax bracket for ordinary income, you would also pay 22% on short-term capital gains. Long-term capital gains, on the other hand, have their own tax rates based on how long you held the asset.

Learn more about Capital Gains Tax here:

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