US Capital Gains Tax Rates 2025 — Federal Brackets by Income & Filing Status
The 2025 federal capital gains tax brackets, organised by filing status and holding period. Source: IRS Rev. Proc. 2024-40. Free to use with attribution (CC BY 4.0).
Max rates include 3.8% Net Investment Income Tax (NIIT) applicable to high earners. Short-term max = 37% ordinary rate + 3.8% NIIT. Long-term max = 20% + 3.8% NIIT.
Long-Term Capital Gains Rates (2025)
Applies to assets held more than 12 months. Taxable income includes your ordinary income plus the long-term gain.
| Rate | Single | Married Filing Jointly | Married Filing Separately | Head of Household |
|---|---|---|---|---|
| 0% | Up to $48,350 | Up to $96,700 | Up to $48,350 | Up to $64,750 |
| 15% | $48,350 – $533,400 | $96,700 – $600,050 | $48,350 – $300,000 | $64,750 – $566,700 |
| 20% | $533,400 – no limit | $600,050 – no limit | $300,000 – no limit | $566,700 – no limit |
| + 3.8% Net Investment Income Tax (NIIT) applies for single filers with MAGI > $200,000 / MFJ with MAGI > $250,000. | ||||
Short-Term Capital Gains Rates (2025) — Single Filer
Short-term gains (assets held 12 months or less) are taxed as ordinary income at your marginal rate. The brackets below are for single filers; other filing statuses have wider brackets.
| Marginal rate | Taxable income (single filer, 2025) | Max rate inc. NIIT |
|---|---|---|
| 10% | Up to $11,925 | 10% |
| 12% | $11,925 – $48,475 | 12% |
| 22% | $48,475 – $103,350 | 22% |
| 24% | $103,350 – $197,300 | 24% |
| 32% | $197,300 – $250,525 | 32% |
| 35% | $250,525 – $626,350 | 38.8% |
| 37% | $626,350 – no limit | 40.8% |
Net Investment Income Tax (NIIT) — 2025
The NIIT is an additional 3.8% federal tax on investment income (including capital gains, dividends, and interest) for high-income taxpayers. It applies to the lesser of: (a) net investment income, or (b) the amount by which Modified AGI exceeds the threshold.
| Filing status | MAGI threshold | NIIT rate |
|---|---|---|
| Single / Head of Household | $200,000 | 3.8% |
| Married Filing Jointly | $250,000 | 3.8% |
| Married Filing Separately | $125,000 | 3.8% |
| Estates and trusts | $15,650 | 3.8% |
Pre-Calculated Examples
The links below show the exact federal CGT calculation for common gain sizes (assuming the gain is the only income — actual tax depends on your total income and filing status):
Key Points for 2025
- The 0% bracket is significant. Single filers with total taxable income below $48,350 — including the gain — pay zero federal tax on long-term gains. This can apply to early retirees drawing from investment accounts before Social Security and RMDs begin.
- Short-term vs. long-term gap widens at higher incomes. At $200,000 income, short-term gains face 32% + 3.8% NIIT = 35.8% while long-term gains face only 15% (no NIIT yet until above $200k threshold). At $400,000: short-term 35% + 3.8% = 38.8% vs. long-term 20% + 3.8% = 23.8%.
- State tax is additional. California taxes all capital gains as ordinary income (up to 13.3% state rate). New York adds up to 10.9%. States with no income tax (Texas, Florida, Washington, Nevada, Wyoming, South Dakota, Alaska) apply 0% state CGT.
- Inflation adjustments. These 2025 brackets are inflation-adjusted under IRS Rev. Proc. 2024-40. The thresholds increase each year; always use current-year figures when planning.
- Qualified Dividends. Qualified dividends are taxed at the same preferential rates as long-term capital gains — not as ordinary income. The same brackets and thresholds apply.
Calculate your capital gains tax for 2025
Enter your gain, holding period, and total income to get an accurate federal CGT estimate — short-term or long-term.
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