IIRC, the only capital gains tax change for this year or the future is the adoption of the super-long term capital gains rates.Starting with purchases made in 2001 and sold in 2006 or later, if you hold an asset for five or more years, the long-term capital gains rate will be 8% or 18% (depending on your tax bracket).Additionally, if you are in the 10 or 15% tax bracket now, you can apply the 8% rate to any asset you sell which you have already owned 5 years.Finally, for this year there is an optional election you can make to effectively sell and buy any asset owned before 1/1/01 on 1/1/01, pay the capital gains tax on the unrealized appreciation and re-start the holding period so as to eventually qualify for the super-long term rate.There has been much discussion elsewhere (and articles here on the Fool) discussing the merits (or lack thereof) of making this election.This election does not apply to your personal residence in the opinion of some of the more respected contributors to these boards.Ira
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