20-Nov-12
Capital Gains and Taxes Paid on Capital Gains
(dollar amounts in millions)
Returns with Positive Net Capital Gains, 1954-2009 [11
Year
1964
1 gss
1966
1967
1968
1 gsg
1960
1961
1962
1963
1964
1966
1966
1967
1968
1969
1970
1971
1972
1973
1974
1976
1976
1977
1978
1979
1980
1981
1982
1983
1984
1986
1986
1987
1988
1 gag
1990
1 ggl
1992
1 gg3
1994
1 ggs
1996
1 gg7
1998
1 ggg
2000
2001
2002
2003
2004
2006
2006
2007
2008
2009
Total Realized
Capital
Gains
7,167
g, 881
9,683
8,110
9,440
13,137
11,747
16,001
13,461
14,679
17,431
21 ,484
21 ,348
27,636
36,607
31 ,439
20,848
28,341
36,869
36,767
30,217
30,903
39,492
46,338
60,626
73,443
74,132
80,938
90,163
122,773
140,600
171,986
327,726
148,449
162,692
164,040
123,783
111,692
126,692
162,269
162,727
180,130
260,696
364,829
466,223
662,608
644,286
349,441
268,616
323,306
499,164
690,162
798,214
924,164
497,841
263,460
Taxes
Paid on
Capital Gains
1 010
1,466
1,402
1,116
1 ,309
1,920
1 ,687
2,481
1,964
2,143
2,482
3,003
2,906
4,112
6,943
6,276
3,161
4,360
6,708
6,366
4,263
4,634
6,621
8,232
9,104
11,763
12,469
12,862
12,900
18,700
21 ,463
26,460
62,914
33,714
38,866
36,268
27,829
24,903
28,983
36,112
36,243
44,264
66,396
79,306
89,069
111,821
127,297
66,668
49,122
61
73,213
102,174
117,793
137,141
68,791
36,686
Long-Term Capital Gains, 1977-2009 [21
Year
1977
1979
1980
1981
1982
1983
1984
1986
1986
1987
1988
1 gag
1990
1 ggl
1992
1 gg3
1994
1 ggs
1996
1 gg7
1998
1 ggg
2000
2001
2002
2003
2004
2006
2006
2007
2008
2009 [3]
Realized
Long-Term
Capital Gains
43,766
70,493
69,866
77,071
86,087
116,016
136,936
166,366
318,944
140,386
163,271
141,069
116,671
98,363
114,060
134,469
140,392
168,966
233,872
330,360
424,762
482,181
688,061
322,831
261 ,301
294,811
466,224
648,430
760,771
861 ,220
463,614
226,336
Taxes Paid on
Long-Term
Capital Gains
7,870
10,406
10,817
11,934
12,600
17,134
20,366
26,178
60,834
31 ,791
36,746
32,361
26, goo
21 ,681
26, 847
31 ,393
33,092
38,368
68,782
69,672
80,611
91 ,416
111,607
68,760
44,984
44,903
66,164
92,304
106,668
122,036
61 ,387
28,228
Average Effective
Tax Rate
(percent)
14.1
14.8
14.6
13.7
139
14.6
14.4
16.6
14.6
14.7
142
14.0
136
14_g
16.7
16.8
16.2
16.3
16.9
16.0
14.1
14.7
16.8
18.2
18.0
16.0
16.8
16_g
14.3
16.2
16.3
16.4
16.1
22.7
239
22_g
22.6
22.3
22.9
23.7
237
24.6
26.6
21.7
19.6
20.2
19.8
18.8
18.3
16_g
14.7
14.8
14.8
14.8
13.8
13.9
Average Effective
Tax Rate
(percent)
18.0
14.8
16.6
16.6
14.6
14.8
16.0
16.1
16.9
22.6
24.0
22_g
224
21_g
227
23.3
236
24.1
26.1
21.1
19.0
19.0
19.0
18.2
17.9
16.2
142
14.2
142
14.2
132
12.6
Realized Gains
as a Percent
of GDP
1.88
2.38
221
1.76
2.02
2.69
223
2.94
230
2.36
263
2_gg
271
3.31
3.91
3.19
2.01
2.62
2.90
2.69
2.02
1.89
216
2.23
220
2.87
266
2.69
277
3.47
3.67
4.08
7.36
3.13
319
2.81
213
1.86
2.00
2.28
216
2.43
333
4.38
6.18
6.91
6.47
3.40
2.62
2_go
4.21
6.47
6.97
3.48
1.89
Realized Gains
as a Percent
of GDP
1.67
2.26
223
2.37
2.66
3.28
346
3.94
7.16
2.96
301
2.67
1.99
I _ 64
1.80
2.02
198
2.14
2.98
3.96
4.83
6.16
6.91
3.14
236
2.66
3.93
6.14
6.61
6.14
324
1.62
Maximum
Tax Rate on
Long-Term Gains
26.00
26.00
26.00
26.00
26.00
26.00
26.00
26.00
26.00
26.00
26.00
26.00
26.00
26.00
26.90
27.60
3221
34.26
36.60
36.60
36.60
36.60
39.876
35876
39.876/33.86
28.00
28.00
28.00/20.00
20.00
20.00
20.00
20.00
20.00
28.00
28.00
28.00
28.00
2883
28.93
29.19
29.19
29.19
29.19
21.19
21.19
21.19
21.17
21.16
16.06
16.06
16.70
16.70
16.36
16.36
Maximum
Tax Rate on
Long-Term Gains
39.876
28.00
28.00
28.00/20.00
20.00
20.00
20.00
20.00
20.00
28.00
28.00
28.00
28.00
2883
28.93
29.19
29.19
29.19
29.19
21.19
21.19
21.19
21.17
21.16
16.06
16.06
16.70
16.70
16.36
16.36
[1] Data include returns with positive total net capital gains, both shot and long-term.
[2] Data include returns With positive long-term gains in excess of any short-term losses.
[3] Preliminary estimate, subject to revision.
Notes: Data for each year include some prior year tax returns. The maximum rate is the effective
rate applying to high-income taxpayers, including the effects of provisions that altar affective
rates for significant amounts of gains. Maximum rates include the effects of exclusions (1964-86),
alternative tax rates (1964-86, 1991-97), the minimum tax (1970-78), the alternative minimum tax
(1979- income tax surcharges (1968-70), and the phasaout of itemized deductions (3% 1991-2006,
2% 2006-07, 1% 2008-09). The maximum statutory rate on long-term gains was 28% starting 1991
20% starting May 1997 and 16% starting May 2003. The 2009 maximum rate includes the affect og the
1% itemized deduction phasaout, computed as Since 1997, gains on collectibles and
certain depreciation recapture have been taxed at ordinary rates, up to maximum rates of 28% on
collectibles and 26% on recapture. Midyear rate changes occurred in 1978, 1981, 1987 and 2003.
Estimates are subject to revision.
Source: Department of the Treasury, Office of Tax Analysis
http:/twww treasum gov/resource-centernax-policy/Documents/OTP-CG-Taxes-Paid-Pos-CG-1g54-200g-6-2012 pdf
http:/Ww-w treasury goWresource-centernax-policy/Documents/OTP-CG-LTCG-Taxes-Paid-1 g77-200g-6-2012pdf
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