The 15th Edition of Modern Real Estate Practice in Texas was published in November 2011. Updates to the content of Chapter 24 include:
Capital Gains Tax Rates: Capital gains tax rates were modified by the American Taxpayer Relief Act of 2012. The new capital gains tax rates for 2013 and future years are as follows:
0% applies to capital gains income if a taxpayer is in the 10% and 15% tax brackets;
15% applies to capital gains income if a taxpayer is in the 25%, 28%, 33%, or 35% tax brackets; and
20% applies to capital gains income if a taxpayer is in the new 39.6% tax bracket.
Updated: April 16, 2013
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