What is the tax rate for capital gains?

The tax rate for capital gains in Iowa is the same as the rate for regular income. This means the rate can vary depending on the amount of your taxable income. For income up to $2,400, the tax rate is 0%. Taxable income over $2,400 but under $4,839 is taxed at 4%. For taxable income over $4,839 but under $7,479, the rate is 6.48%. Any income over $7,479 is taxed at 8.98%. In addition, Iowa does have a surtax, called the “Iowa Surtax,” which is an additional tax on capital gains. This surtax is a flat rate of 6%, so if you are in one of the higher tax brackets, you will have to pay a total of 14.98% on your capital gains. It should be noted that this surtax only applies to Iowa residents. Finally, Iowa offers a few exemptions to capital gains taxes. For example, if you are over the age of 65 or if you have been a resident of the state for the past 20 consecutive years, you may be eligible for a tax-free exclusion of up to $12,000 on capital gains earnings. There are also additional exemptions for capital gains earned from agriculture, timber, and certain other investments. It is important to note that capital gains taxes can be complicated, so it is always best to seek the advice of a tax professional if you have any questions.

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What is the tax rate for capital gains?

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