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I have a large capital gain coming in late 2011 or early 2012.

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My question is, will the...
I have a large capital gain coming in late 2011 or early 2012. My question is, will the capital gains rate remain the same in 2012 or could the government change the rate even thou president Obama signed the tax relief bill in Dec. 2010 holding the rate at 15% thru 2012
Submitted: 6 years ago.Category: Tax
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Answered in 19 minutes by:
6/2/2011
Tax Professional: Lev, Tax Advisor replied 6 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,636
Experience: Taxes, Immigration, Labor Relations
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LEV :

Hi and welcome to Just Answer!
Current capital gain tax rates were extended through 2012 by President Barack Obama on Dec 17, 2010.

LEV :

Starting 2013 - unless the law will be changed - dividends will be taxed as ordinary income and the long-term capital gains tax rate will be 20% (10% for those in the 15% tax bracket).

LEV :

See for reference - http://www.gpo.gov/fdsys/pkg/PLAW-111publ312/pdf/PLAW-111publ312.pdf
SEC. 101. TEMPORARY EXTENSION OF 2001 TAX RELIEF.
(a) TEMPORARY EXTENSION.—
(1) IN GENERAL.—Section 901 of the Economic Growth and Tax Relief Reconciliation Act of 2001 is amended by striking ‘‘December 31, 2010’’ both places it appears and inserting ‘‘December 31, 2012’’.

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