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Ed Johnson
Ed Johnson, Tax Preparer
Category: Tax
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Experience:  GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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In light of the economy, etc. will Obama raise the capital

Resolved Question:

In light of the economy, etc. will Obama raise the capital gains tax rate in 2009 and if so by how much?
Submitted: 8 years ago.
Category: Tax
Expert:  Ed Johnson replied 8 years ago.

Dear beerguy,

 

Obama and his transition team have not yet formed the plan.

 

According to his last remarks and his website, he is most likely to allow the current capital gains regs to expire.

 

This means the current capital gains rates will continue to 2010. Expiring in 2010, the rates would revert back to pre 2003 rates, of 20%.

 

 

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