Nerdwallet tax calculator
We would like to show you a description here but the site wont allow us. Both reduce your tax bill but in different ways.
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The long-term capital gains tax rate is 0 15 or 20.
. A tax credit valued at 1000 for instance lowers your tax bill by 1000. Tax credits directly reduce the amount of tax you owe dollar for dollar. Long-term capital gains tax is a tax on profits from the sale of an asset held for more than a year also known as a long term investment.
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