How much is capital gains tax in CA

Capital Gains Tax Rate in California for 2023

The capital gains tax rate in California for the year 2023 is treated the same as ordinary income tax rates. California does not offer a separate capital gains rate, which means that capital gains are taxed at the same rate as regular income. This is confirmed by the information provided from the Franchise Tax Board's website:

- "California does not have a lower rate for capital gains. All capital gains are taxed as ordinary income." (Capital gains and losses | FTB.ca.gov)

To determine the exact tax rate that applies to an individual's capital gains in California, one would need to reference the state's income tax brackets for the 2023 tax year. These brackets are progressive, meaning that the rate increases as the taxpayer's income increases. The specific tax rate can be found by using the tax calculator provided by the Franchise Tax Board or by looking at the tax rate schedules for the relevant year.

For more detailed information on how to report capital gains and losses on California tax returns, taxpayers can refer to the following resources:

- Instructions for reporting capital gains and losses on U.S. Individual Income Tax Return (IRS Form 1040) and Capital Gains and Losses, Schedule D (IRS Form 1040) (Capital gains and losses | FTB.ca.gov)

- Instructions for California Capital Gain or Loss Schedule D (540) (2023 Instructions for California Schedule D (540) | FTB.ca.gov)

- General tax calculation methods and rates (Tax calculator, tables, rates | FTB.ca.gov)

Please note that while the provided information does not include the specific tax brackets for 2023, the tax rates can be quickly figured by entering one's filing status and income into the tax calculator on the Franchise Tax Board's website, or by consulting the tax rate schedules for the 2023 tax year.

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Sources:

Capital gains and losses | FTB.ca.gov 2024-08-01

Taxation of Nonresidents and Individuals Who Change Residency 2024-07-31

2022 Instructions for Schedule CA (540) | FTB.ca.gov - Franchise Tax Board 2024-08-02

Tax calculator, tables, rates | FTB.ca.gov - Franchise Tax Board 2024-08-04

Income from the sale of your home | FTB.ca.gov - Franchise Tax Board 2024-08-02

2023 Instructions for California Schedule D (540) | FTB.ca.gov 2024-08-03

2023 Fiduciary Income 541 Tax Booklet | FTB.ca.gov - Franchise Tax Board 2024-07-31

2022 Corporation Tax Booklet 100 | FTB.ca.gov - Franchise Tax Board 2024-07-27

2022 Limited Liability Company Tax Booklet | California Forms ... 2024-08-03

2022 Instructions for Schedule D (100S) | ftb.ca.gov - Franchise Tax Board 2024-07-30