Capital Gains Tax Calculator

For 2024, federal long-term capital gains rates are 0%, 15%, or 20% depending on your taxable income and filing status. Single filers pay 0% on income up to $47,025, 15% up to $518,900, and 20% above that. Married filing jointly thresholds are $94,050 (0%), $583,750 (15%), and 20% above. High earners may also owe the 3.8% Net Investment Income Tax (NIIT), bringing the effective top rate to 23.8%. Short-term capital gains (assets held 12 months or less) are taxed as ordinary income at rates from 10% to 37%. Collectibles (art, coins, antiques) are taxed at a maximum 28% for long-term gains.

The holding period — how long you owned the asset before selling — determines whether your gain is short-term or long-term. Assets held for more than 12 months produce long-term capital gains, taxed at preferential rates of 0%, 15%, or 20% federally. Assets held 12 months or less produce short-term capital gains, taxed as ordinary income at your marginal tax rate (up to 37%). The tax savings from holding an asset just one extra day to qualify for long-term treatment can be substantial: a single filer with a $50,000 gain who falls in the 22% ordinary income bracket saves $3,500 in federal taxes by qualifying for the 15% long-term rate instead.

If you've owned and lived in your primary residence for at least 2 of the last 5 years, you can exclude up to $250,000 of gain from federal tax (single filers) or $500,000 (married filing jointly). This is under IRS Section 121. If your gain exceeds the exclusion, only the excess is taxable. For example, if you're single and made a $400,000 gain on your home, only $150,000 is taxable. You can use this exclusion once every two years. Investment properties and second homes do not qualify for the exclusion, though you can use a 1031 exchange to defer gains on rental property by reinvesting in similar property.

The Net Investment Income Tax is an additional 3.8% surtax on certain investment income for higher-income taxpayers, enacted under the Affordable Care Act. It applies to the lesser of (a) your net investment income (capital gains, dividends, interest, rents, royalties) or (b) the amount by which your Modified Adjusted Gross Income (MAGI) exceeds the threshold — $200,000 for single filers and $250,000 for married filing jointly. So if you're a single filer with $180,000 in wages and $50,000 in capital gains, your MAGI is $230,000 — $30,000 above the threshold. NIIT applies to the lesser of $50,000 (your investment income) or $30,000 (income above threshold), so you'd owe 3.8% × $30,000 = $1,140 in NIIT.

Capital losses offset capital gains dollar-for-dollar in the same tax year. If your total losses exceed your total gains, you can deduct up to $3,000 of net capital losses against ordinary income annually (the limit is $1,500 for married filing separately). Any remaining loss carries forward to future years indefinitely until fully used. For example, if you have $15,000 in capital losses and $8,000 in capital gains in 2024, your net loss is $7,000. You'll use $3,000 to reduce ordinary income in 2024 and carry forward $4,000 to 2025. Short-term losses are first used to offset short-term gains; long-term losses offset long-term gains. Excess losses of one type can then offset the other type.

The IRS treats cryptocurrency as property, not currency, so general capital gains rules apply. Every time you sell, trade, or spend crypto, it's a taxable event — you recognize a capital gain or loss based on the difference between your cost basis (what you paid) and fair market value at the time of the transaction. Mining income and staking rewards are taxed as ordinary income at receipt. Crypto held more than 12 months qualifies for long-term capital gains rates. A crypto-to-crypto trade (e.g., exchanging Bitcoin for Ethereum) is also a taxable event. Receiving crypto as payment for services is ordinary income. Tax-loss harvesting — selling crypto at a loss to offset gains — does not trigger the wash-sale rule (which applies to stocks), so you can buy back immediately. This may change as Congress continues to regulate digital assets.