Short term tax rate vs long term
Current year short-term capital gains (including collectibles);; Long-term capital gains on collectibles and pre-1996 installment sales; and; Gains on the sale of Short-term capital gains are profits from selling assets you own for a year or less. They're usually taxed at lower long-term capital gains tax rates (0%, 15%, Long term gains are subject to a different set of tax rates, called the capital gains rate. There may also be additional long term state taxes. In New York, for example