Get your taxes done using TurboTax

• Short-term gains come from the sale of assets you have owned for one year or less. They are typically taxed at ordinary income tax rates, as high as 37% in 2024 and 2025.
• Long-term gains come from the sale of assets you have owned for more than one year. They are typically taxed at either 0%, 15%, or 20% for 2024 and 2025, depending on your tax bracket.
• Long-term gains on collectibles—such as stamps, antiques and coins—are taxed at 28%, or at your ordinary-income tax rate if lower.

The holding period determines whether your gain is long term or short term