Capital gains provisions in the Taxpayer Relief Act

Among the most significant changes provided by the Taxpayer Relief Act of 1997 are those pertaining to the taxation of capital gains. The act lowers the maximum rate of tax applicable to net capital gains of individuals, trusts, and estates. It does so by altering the rate structure and by changing...

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Bibliographic Details
Published inABA trust letter no. 382; p. 6
Main Author Morris, Donald C
Format Journal Article
LanguageEnglish
Published Washington American Bankers Association 01.09.1997
Subjects
Alternative minimum tax
Capital gains
Capital losses
Estate planning
Installment payments
REITs
Sales
Tax rates
Tax reform
Tax regulations
Taxation
Treasuries
Trust departments
Trust funds
Trusts
United States > US
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ISSN1524-4210

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Summary:Among the most significant changes provided by the Taxpayer Relief Act of 1997 are those pertaining to the taxation of capital gains. The act lowers the maximum rate of tax applicable to net capital gains of individuals, trusts, and estates. It does so by altering the rate structure and by changing the holding period required to obtain the benefits of the lower maximum rates. It is apparent that these changes will add considerable complexity to planning and to tax computation. The basic rules are summarized and some of the uncertainties that exist are discussed.
ISSN:1524-4210