<klink type="cncpt">Tell me about capital gains tax</klink>
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<p>When you sell an investment that has increased in value, you may need to pay <glossary tNum="286960">capital gains</glossary> tax on any profit. The amount of tax you pay depends on how long you've owned the investment and what your income tax bracket is.</p>
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<li><emph>Short-term investments.</emph> Investments you own for one year or less are short-term investments. You pay taxes on any profits from the sale at your normal income tax rate.</li>
<li><emph>Long-term investments.</emph> Investments you own for more than one year are long-term investments, which are taxed at a more favorable long-term capital gains rate. The rate is 20% for most taxpayers, or 10% for taxpayers in the 15% tax bracket.</li>
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<tease>How do I see a report of my potential capital gains taxes?</tease>
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<ol>
<li>On the <emph>Reports</emph> menu, click <emph>Reports Gallery</emph>.</li>
<li>In the left pane, click <frgmnt sku="biz"><emph>Personal</emph>, and then click </frgmnt><emph>What I Have</emph>.</li>
<li>Double-click <emph>Net Worth Less Capital Gains Tax</emph> or <emph>Net Worth over Time Less Capital Gains Tax</emph>.</li>
