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Flitt asks:

Is the federal govt. going to offer tax breaks for holding stocks for 18months? What was decided on that?

Also, what are the income limits for various tax brackets and what are the percentages.


As part of the IRS Restructuring bill, Congress reduced the holding period for long term capital gains rates to 18 months and a day. If you are in a 15% marginal tax bracket, that means your long term capital gains rate will be 10%. For those in a marginal tax bracket of 28% or higher, the rate is 20%.

If your taxable income in 1998 as a single person is in the ranges shown, then your marginal income tax bracket is as indicated:

0 to 25,350………….15%
25,350+ to 61,400…..28%
61,400+ to 128,100…31%
128,100+ to 278,450..36%
278,450+………….39.6%

For joint filers, the numbers are:

0 to 42,350…………..15%
42,350+ to 102,300….28%
102,300+ to 155,950...31%
155,950+ to 278,450...36%
278,450+…………..39.6%

Regards….Pixy

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