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A Guide to the Capital Gains Tax Rates: Short-term vs. Long-term Capital Gains Taxes

Written by a TurboTax Expert • Reviewed by a TurboTax CPA

Updated for Tax Year 2025 • February 24, 2026 10:55 AM

OVERVIEW

See how the short-term and long-term capital gains rates differ – and how that impacts your federal income tax bill. We’ll also discuss the “net investment income” tax, which is a 3.8% surcharge on top of the capital gains tax, touch upon state capital gains tax rates, and show you how to reduce or delay capital gains taxes.

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The One Big Beautiful Bill that passed includes permanently extending tax cuts from the Tax Cuts and Jobs Act, including increasing the cap on the amount of state and local or sales tax and property tax (SALT) that you can deduct, makes cuts to energy credits passed under the Inflation Reduction Act, makes changes to taxes on tips and overtime for certain workers, reforms Medicaid, increases the Debt ceiling, and reforms Pell Grants and student loans. Updates to this article are in process. Check our One Big Beautiful Bill article for more information.

TABLE OF CONTENTS

What is the capital gains tax?
What is a capital asset?
What's the difference between a short-term and long-term capital gain or loss?

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Key Takeaways

Profits from the sale of most property held for personal use or investment are known as capital gains, and they’re generally taxed at different rates depending on how long you held the property.
Gains from the sale of assets you’ve held for one year or less are called short-term capital gains, and they’re generally taxed at the same 10% to 37% federal income tax rates applied to your wages and other “ordinary” income.
Gains from the sale of assets you’ve held for more than one year are known as long-term capital gains, and they’re typically taxed at either a 0%, 15%, or 20% rate, depending on your filing status and taxable income.
While there are some exceptions, most states tax capital gains at the same rates used to tax wages and other forms of “ordinary” income.

What is the capital gains tax?

The capital gains tax is a federal tax on gains from the sale or other disposition of a capital asset (“gains” are basically your profits). The tax rates for “long-term capital gains” are different from the ones for “short-term capital gains” (the differences are discussed below).

If you sell a capital asset for a loss, the loss can generally be used to offset your capital gains for the year. For instance, if you have a $1,000 capital gain and a $200 capital loss, you’ll only be taxed on $800 of net capital gain ($1,000 - $200 - $800).

If your net losses are greater than your net gains, you can deduct up to $3,000 of the extra amount from your wages, interest, and other “ordinary” taxable income for the year (up to $1,500 for married taxpayers filing a separate return). If you still have extra losses, they can offset gains or ordinary income in future years until they’re gone.

The capital gains tax is typically calculated and paid when you file your federal income tax return for the year that an asset is sold. You may have to complete Form 8949 and Schedule D to determine your capital gains and losses. Your total capital gain or loss is then reported on your Form 1040.

What is a capital asset?

According to the IRS, “almost everything you own and use for personal or investment purposes is a capital asset.” Among other things, this includes:

investment securities (like stocks, bonds, and mutual funds)
precious metals (like gold and silver)
land
houses
furniture
cars
boats
jewelry
collectibles (like coins, stamps, or art)

Property can be a capital asset if it's held for business purposes. However, by law, certain types of business-related property don’t qualify as a capital asset, such as:

inventory held mainly for sale to customers
real estate used for business or as rental property
patents, inventions, secret formulas, and certain other “intangible” business property that you created, was created for you, or given to you
supplies regularly used in a business

What's the difference between a short-term and long-term capital gain or loss?

Whether your capital gains and losses are treated as short-term or long-term typically depends on how long you held the related capital asset before selling or otherwise disposing of it. If you hold the asset for one year or less, you will have a short-term capital gain or loss. On the other hand, if you hold it for longer than one year, you will have a long-term capital gain or loss.

The length of time you hold a capital asset is known as the holding period. For each asset you own, the holding period begins on the day after you acquire the asset and ends on the day you sell or otherwise dispose of it (the sale/disposal date is counted as part of the holding period).

Typically, different rules apply to short-term and long-term capital gains and losses. For instance, the tax rates for net short-term capital gains are generally higher than the rates for net long-term capital gains.

Let’s take a look at both the short-term and long-term capital gains tax rates.

What are the short-term capital gains tax rates?

You typically don’t benefit from any special tax rate if you have a net short-term capital gain. Instead, they’re taxed at the short-term capital gains tax rates, which are the same rates used to tax your wages, interest, pension payments, and other “ordinary” taxable income.

Federal income tax rates on ordinary income range from 10% to 37%, depending on your taxable income and filing status.

What are the 2025 short-term capital gains tax rates (for filing in 2026)?

Tax Rate	10%	12%	22%	24%	32%	35%	37%
Filing Status	Taxable Income
Single	Up to $11,925	$11,926 to $48,475	$48,476 to $103,350	$103,351 to $197,300	$197,301 to $250,525	$250,526 to $626,350	Over $626,350
Head of Household	Up to $17,000	$17,001 to $64,850	$64,851 to $103,350	$103,351 to $197,300	$197,301 to $250,500	$250,501 to $626,350	Over $626,350
Married Filing Jointly	Up to $23,850	$23,851 to $96,950	$96,951 to $206,700	$206,701 to $394,600	$394,601 to $501,050	$501,051 to $751,600	Over $751,600
Married Filing Separately	Up to $11,925	$11,926 to $48,475	$48,476 to $103,350	$103,351 to $197,300	$197,301 to $250,525	$250,526 to $375,800	Over $375,800

What were the 2024 short-term capital gains tax rates (for filing in 2025)?

Tax Rate	10%	12%	22%	24%	32%	35%	37%
Filing Status	Taxable Income
Single	Up to $11,600	$11,601 to $47,150	$47,151 to $100,525	$100,526 to $191,950	$191,951 to $243,725	$243,726 to $609,350	Over $609,350
Head of Household	Up to $16,550	$16,551 to $63,100	$63,101 to $100,500	$100,501 to $191,950	$191,951 to $243,700	$243,701 to $609,350	Over $609,350
Married Filing Jointly	Up to $23,200	$23,201 to $94,300	$94,301 to $201,050	$201,051 to $383,900	$383,901 to $487,450	$487,451 to $731,200	Over $731,200
Married Filing Separately	Up to $11,600	$11,601 to $47,150	$47,151 to $100,525	$100,526 to $191,950	$191,951 to $243,725	$243,726 to $365,600	Over $365,600

What are the long-term capital gains tax rates?

If you hold an asset for longer than one year, your capital gain will generally be taxed at one of three long-term capital gains tax rates – 0%, 15%, or 20%. The rate you pay depends on your filing status and taxable income.

Whichever long-term capital gains tax rate applies, it’s typically lower than the short-term capital gains tax rate that would apply to the same amount of net capital gain.

TurboTax Tip:

“Some exceptions exist to the maximum capital gains tax rate of 20%. For instance, gains from the sale of collectibles and the taxable part of gain from the sale of qualified small business stock are taxed at 28%. Plus, gains from the sale of certain real property where prior depreciation was claimed are taxed at 25%.” – Kelly Wallace, CPA, Homedale, Idaho

What are the 2025 long-term capital gains tax rates (for filing in 2026)?

Tax Rate	0%	15%	20%
Filing Status	Taxable Income
Single	Up to $48,350	$48,351 to $533,400	Over $533,400
Head of Household	Up to $64,750	$64,751 to $566,700	Over $566,700
Married Filing Jointly	Up to $96,700	$96,701 to $600,050	Over $600,050
Married Filing Separately	Up to $48,350	$48,351 to $300,000	Over $300,000

What were the 2024 long-term capital gains tax rates (for filing in 2025)?

Tax Rate	0%	15%	20%
Filing Status	Taxable Income
Single	Up to $47,025	$47,026 to $518,900	Over $518,900
Head of Household	Up to $63,000	$63,001 to $551,350	Over $551,350
Married Filing Jointly	Up to $94,050	$94,051 to $583,750	Over $583,750
Married Filing Separately	Up to $47,025	$47,025 to $291,850	Over $291,850

What are the special long-term capital tax rates?

As an alternative to the standard 0%, 15%, and 20% rates, the following special long-term capital gains tax rates generally apply:

25% for the portion of any unrecaptured gain from selling certain real estate known as “Section 1250” property
28% for net gains from selling collectibles (such as art, stamps, coins, precious metals, antiques, and the like)
28% for the taxable part of a gain from selling qualified small business stock (also known as “Section 1202 stock”)

However, if you figure your tax using one of these special rates, but using your “ordinary” income tax rate would result in a lower tax, the ordinary tax rate applies. For example, if all of your net capital gain is from selling collectibles, the 28% rate doesn’t apply if you’re otherwise subject to a lower ordinary rate.

Do you have to pay taxes on “net investment income”?

In addition to the capital gains tax, you might also owe the net investment income tax (NIIT) when you sell capital assets. The NIIT is a 3.8% surtax on “net investment income,” which typically includes (among other things) capital gains, interest, dividends, rental and royalty income, and non-qualified annuities.

The NIIT only applies if your modified adjusted gross income is greater than the following threshold amounts.

Net Investment Income Tax Thresholds
Filing Status	Threshold Amount
Single or Head of Household	$200,000
Married Filing Jointly or Surviving Spouse	$250,000
Married Filing Separately	$125,000

Use Form 8960 to calculate the NIIT.

Are state capital gains tax rates different from federal tax rates?

The state tax rate on your capital gains will likely be different from the federal tax rates on capital gains – that is, if you have to pay state taxes on your capital gains.

There are nine states that don’t tax capital gains at all:

Alaska
Florida
Missouri
Nevada
New Hampshire
South Dakota
Tennessee
Texas
Wyoming

One of them – Missouri – imposes a personal income tax, but it completely exempts capital gains from taxation. The others don’t tax capital gains because they don’t have a general state income tax.

Washington doesn’t have a general income tax, either. But it does have a special tax on certain long-term capital gains. Starting with the 2025 tax year, the tax rate is 7% for the first $1 million of taxable capital gains, and 9.9% taxable capital gains over $1 million (it was a flat 7% rate before 2025).

For most states with a general income tax, capital gains are taxed at the same rate applied to wages and other forms of “ordinary” income. This is generally true for both short-term and long-term capital gains.

But there are a handful of states with an income tax that also have special taxes or tax rates for capital gains, including:

Hawaii – 7.25% rate for long-term capital gains vs. 1.4% to 11% rates for ordinary income
Maryland – 2% additional tax on capital gains for people with a federal adjusted gross income over $350,000 (regardless of filing status) in addition to 2% to 6.5% rates for ordinary income
Massachusetts – 8.5% rate for short-term capital gains and 12% rate for long-term capital gains on collectibles vs. 5% to 9% rates for ordinary income
Minnesota – 1% additional tax on capital gains exceeding $1 million (and other net investment income) in addition to 5.35% to 9.85% rates for ordinary income
Montana – 3% or 4.1% rate for long-term capital gains vs. 4.7% to 5.9% rates for ordinary income

There are other states that allow a partial tax deduction or exemption for capital gains, such as Arizona, Arkansas, New Mexico, North Dakota, South Carolina, Vermont, and Wisconsin. While the rates applied to the taxable portion of capital gains are the same in these states as the rates applied to ordinary income, the available tax breaks reduce the amount of state income tax paid on capital gains.

For more information on state tax rates on ordinary income, see our article on States with the Lowest and Highest Income Tax Rates.

How can you minimize capital gains taxes?

There are several ways you can reduce, or in some cases eliminate, taxes on capital gains. You may be able to delay payment of the tax, too. Here are a few ways to cut your capital gains tax bill or push it forward into the future:

Wait to sell assets – If you can keep an asset for more than one year before selling it, any gain will typically be taxed at the long-term capital gains tax rates. In most cases, the long-term rate will be lower than the short-term capital gains tax rate that would apply if you sell an asset earlier.
Hold assets in tax-advantaged retirement accounts – Placing capital assets in tax-advantaged retirement accounts, like traditional and Roth IRAs, can cut your tax bill. That’s because investments in these accounts can grow on a tax-deferred or tax-free basis. As a result, if you sell or otherwise dispose of the asset, you won't have to pay capital gains (or other taxes) on the earnings right away – and if you have a Roth account, you generally won’t pay any tax even when you take the money out.
Don't sell your home too quickly – Up to $250,000 of gain from the sale of your home may be exempt from the capital gains tax (up to $500,000 for joint filers). But there’s a catch: You must have owned your home and used it as your primary residence for at least two of the five years prior to selling it (other rules and restrictions may apply). So, if you’re thinking of moving from a home you recently bought, waiting to sell until you can claim the exclusion might be a wise move.
Sell investments that have decreased in value – If you have stock or other assets that have dropped in value, consider selling them to generate a capital loss. You can use the loss to offset any capital gains for the year, and possibly up to $3,000 of “ordinary” income. This strategy is known as “tax loss harvesting.”
Donate assets that have increased in value to charity – If you have an asset that has increased in value, donating it directly to a charitable organization can cut your tax bill in two ways. First, you can generally avoid the capital gains tax if you held the property for more than one year. Second, you can usually claim a charitable tax deduction if you itemize your deductions on your tax return. The charitable deduction is generally equal to the asset’s fair market value if you held it for more than one year, or equal to your basis in the property if you held it for one year or less (other limitations may apply).
Complete a Section 1031 like-kind exchange – If you sell investment real estate for a profit, you can delay payment of capital gains tax by using the proceeds from the sale to buy a similar property. This is known as a Section 1031 exchange, or a “like-kind” exchange. You’ll eventually have to pay capital gains tax if you sell the replacement property and don’t reinvest the proceeds into a new property with another 1031 exchange.

Frequently asked questions about capital gains tax rates

Q1: Is cryptocurrency subject to the capital gains tax?

If you own and use cryptocurrency for personal or investment purposes, it’s treated as a capital asset. As a result, if you sell or otherwise dispose of the crypto (including if you use it to buy something), you may have to pay capital gains tax.

The short-term capital gain tax rates apply if you hold crypto for one year or less before selling it. The long-term capital gain tax rates are used if you hold crypto for more than one year.

If you receive cryptocurrency in exchange for goods or services in a business context (including if your salary is paid in crypto), it’s taxed as “ordinary” income (like other wages). Check out our Crypto Tax Guide for more information on the taxation of cryptocurrency.

Q2: What is the capital gains tax rate for assets in retirement accounts?

The capital gains tax doesn’t apply to the sale or disposition of capital assets held in an IRA or similar retirement account. Instead, if the asset is in a “traditional” retirement account when sold, taxes on any gains are generally deferred until they’re withdrawn from the account. At that point, the gains are taxed at the “ordinary” income tax rates. If capital assets are held in a Roth account when sold, any gain is typically not taxed at all when they’re withdrawn from the account. Learn more about the tax benefits of retirement accounts.

Q3: How much is the capital gains tax on collectibles?

If you sell a collectible after holding it for more than one year, the long-term capital gains tax rate is generally 28%. However, if your “ordinary” income tax rate is lower, then the lower rate applies.

If you sell a collectible after holding it for one year or less, the short-term capital gain tax rates apply (that is, your ordinary income tax rates are used). See the IRS definition of a “collectible” for tax purposes.

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Capital Gains and Losses Tax Tips for Investors What Are Deductible Investment Interest Expenses?What is Form 8960: Net Investment Income Tax 5 Things You Should Know about Capital Gains Tax

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The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.

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Loan details and disclosures for the TurboTax Refund Advance program: If you expect to receive a federal refund of $500 or more, you could be eligible for a TurboTax Refund Advance loan. TurboTax Refund Advance loans are issued by WebBank, which is not affiliated with MVB Bank, Inc., Member FDIC. TurboTax Refund Advance is a loan based upon your anticipated refund and is not the refund itself. 0% APR and $0 loan fees. Availability of the TurboTax Refund Advance is subject to satisfaction of identity verification, certain security requirements, eligibility criteria, and underwriting standards. This TurboTax Refund Advance offer expires on April 15, 2026, or the date that available funds have been exhausted, whichever comes first. Offer, eligibility, and availability subject to change without further notice.

TurboTax Refund Advance loans issued by WebBank are facilitated by Intuit Financing Inc. (NMLS # 1136148), a subsidiary of Intuit Inc. Although there are no loan fees associated with the TurboTax Refund Advance loan, separate fees may apply if you choose to pay for TurboTax with your federal refund. Paying with your federal refund is not required for the TurboTax Refund Advance loan. Additional fees may apply for other products and services that you choose.

You will not be eligible for the loan if: (1) your physical address is not included on your federal tax return, (2) your physical address is located outside of the United States or a US territory, is a PO box or is a prison address, (3) your physical address is in one of the following states: IL, CT, or NC, (4) you are less than 18 years old, (5) the tax return filed is on behalf of a deceased person, (6) you are filing certain IRS Forms (1310, 4852, 4684, 4868, 1040SS, 1040PR, 1040X, 8888, or 8862), (7) your expected refund amount is less than $500, or (8) you did not receive Forms W-2 or 1099-R or you are not reporting income on Sched C. Additional requirements: You must (a) e-file your federal tax return with TurboTax and (b) currently have or open a Credit Karma Money™ Spend (checking) account with MVB Bank, Inc., Member FDIC. Maximum balance and transfer limits apply. Opening a Credit Karma Money™ Spend (checking) account is subject to eligibility. Please see Credit Karma Money Spend Account Terms and Disclosures for details.

Not all consumers will qualify for a loan or for the maximum loan amount. If approved, your loan will be for one of ten amounts: $250, $500, $750, $1,000, $1,500, $2,000, $2,500, $3,000, $3,500, or $4,000. Your loan amount will be based on your anticipated federal refund to a maximum of 50% of that refund amount. Those filing with TurboTax Expert Full Service may be eligible for a loan, issued by WebBank, in an amount that is based on the full amount of their anticipated federal refund with a maximum loan amount of $10,000, and such loans are available in amounts that are multiples of $250. Full Refund Amount calculation based upon the estimated amount of your refund less any fees associated with additional refund products. You will not receive a final decision of whether you are approved for the loan until after the IRS accepts your e-filed federal tax return. Loan repayment is deducted from your federal tax refund and reduces the subsequent refund amount paid directly to you.

If approved, your TurboTax Refund Advance will be deposited into your Credit Karma Money™ Spend (checking) account typically within 15 minutes after the IRS accepts your e-filed federal tax return and you may access your funds online through a virtual card. Your physical Credit Karma Visa® Debit Card* should arrive in 7 - 14 days. *Card issued by MVB Bank, Inc., Member FDIC pursuant to a license from Visa U.S.A. Inc.; Visa terms and conditions apply. Other fees may apply. For more information, please visit: https://support.creditkarma.com/s/article/Are-there-fees-with-a-Credit-Karma-Money-Spend-account.

If you are approved for a loan, your tax refund after deducting the amount of your loan and agreed-upon fees (if applicable) will be placed in your Credit Karma Money™ Spend (checking) account. Tax refund funds are disbursed by the IRS typically within 21 days of e-file acceptance. If you apply for a loan and are not approved after the IRS accepts your e-filed federal tax return, your tax refund minus any agreed-upon fees (if applicable) will be placed in your Credit Karma Money™ Spend (checking) account.

If your tax refund amounts are insufficient to pay what you owe on your loan, you will not be required to repay any remaining balance. However, you may be contacted to remind you of the remaining balance and provide payment instructions to you if you choose to repay that balance. If your loan is not paid in full, you will not be eligible to receive a TurboTax Refund Advance loan in the future.
Loan details and disclosures for the File Now, Pay Later program: If your expected federal tax balance owed is between $200 and $6,000, you could be eligible for a File Now, Pay Later loan. File Now, Pay Later loans are issued by WebBank, not affiliated with Cross River Bank, Member FDIC. File Now, Pay Later is a loan based upon your federal tax balance due and can only be used to make your federal tax payment directly to the IRS. You must be eligible to receive a loan in the amount of your full federal tax balance due in order to be approved. Availability of the File Now, Pay Later is subject to credit approval, satisfaction of identity verification, certain security requirements, eligibility criteria, and underwriting standards. This File Now, Pay Later offer expires on October 16, 2026, or the date that available funds have been exhausted, whichever comes first. Offer, eligibility, and availability subject to change without further notice.

File Now, Pay Later is available with a 3, 6, or 9 month loan term. Variable APR ranging from 15%-33%. For example, a 6-month $2,000 loan with an APR of 19% has a finance charge of $112.28 and 6 monthly installments of $352.05 each. Payments may change if you have missed payments, overpayments, or payments made outside of your normal payment schedule.

File Now, Pay Later loans issued by WebBank are facilitated by Intuit Financing Inc. (NMLS # 1136148), a subsidiary of Intuit Inc. Although there are no loan fees associated with the File Now, Pay Later loan, separate fees may apply if you choose to pay for TurboTax with your state refund. Paying for TurboTax with your state refund is not required to be eligible for a File Now, Pay Later loan. Additional fees may apply for other products and services that you choose.

You will not be eligible for the loan if: (1) your physical address is not included on your federal tax return, (2) your physical address is located outside of the United States or a US territory, is a PO box or is a prison address, (3) you are less than 18 years old, (4) the tax return filed is on behalf of a deceased person, (5) your federal tax balance owed is less than $200 or greater than $6,000, or (6) you do not have a social security number. Additional requirements: You must (a) e-file your federal tax return with TurboTax and (b) authorize Intuit Financing Inc. to open a Router Account in your name with an FDIC insured bank. Opening a Router Account is subject to identity verification.

If approved, your File Now, Pay Later will be deposited into a temporary router account established for you at an FDIC insured bank ("Router Account"), shortly after the IRS accepts your e-filed federal tax return. You will have no access to the funds and the funds will only be accessed by the IRS via an authorized debit of the Router Account. Authorized tax payments are debited by the IRS, typically within 5 days of e-file acceptance.

Not all consumers will qualify for a loan or for the maximum loan amount. If approved, your loan will be issued in the exact amount of your federal taxes owed. You will not receive a final decision of whether you are approved for the loan until after the IRS accepts your e-filed federal tax return. Your loan repayment period begins once the IRS has received your tax payment. If your loan is not paid in full, you will not be eligible to receive a File Now, Pay Later loan in the future.
Pay for TurboTax out of your federal refund or state refund: Individual taxes only. Subject to eligibility requirements. Additional terms apply. A $40 service fee may apply to this payment method. Prices are subject to change without notice.
TurboTax Help and Support: Access to a TurboTax product specialist is included with TurboTax Do It Yourself Deluxe, TurboTax Do It Yourself Premium, TurboTax Expert Assist and TurboTax Expert Full Service; not included with TurboTax Free Edition (but is available as a paid upgrade). TurboTax specialists are available to provide general customer help and support using the TurboTax product. Services, areas of expertise, experience levels, wait times, hours of operation and availability vary, and are subject to restriction and change without notice. Limitations apply. See Terms of Service for details.
TurboTax Experts - Tax Advice and Expert Review: Access to an expert for tax questions and Expert Review (the ability to have a tax expert review) is included with TurboTax Expert Assist or as an upgrade from another TurboTax product, and available through December 31, 2026. Access to an expert for tax questions is also included with TurboTax Expert Full Service and available through December 31, 2026. If you use TurboTax Experts, Intuit will assign you a tax expert based on availability. Tax expert availability may be limited. Some tax topics or situations may not be included as part of this service, which shall be determined at the tax expert’s sole discretion. The ability to retain the same expert preparer in subsequent years will be based on an expert’s choice to continue employment with Intuit and their availability at the times you decide to prepare your return(s). Administrative services may be provided by assistants to the tax expert. On-screen help is available on a desktop, laptop or the TurboTax mobile app. For the TurboTax Expert Assist product: If your return requires a significant level of tax advice or actual preparation, the tax expert may be required to sign as the preparer at which point they will assume primary responsibility for the preparation of your return. For the TurboTax Expert Full Service product: Hand off tax preparation by uploading your tax documents, getting matched with an expert, and meeting with an expert in real time. The tax expert will sign your return as a preparer.
TurboTax Experts - Unlimited Expert Support: Unlimited access to TurboTax experts refers to an unlimited quantity of contacts available to each customer, but does not refer to hours of operation or service coverage. Service, area of expertise, experience levels, wait times, hours of operation and availability vary, and are subject to restriction and change without notice.
TurboTax Experts - Years of Experience: Based on experts’ self-reported years of tax experience.
TurboTax Experts - Expert Availability: During tax season, TurboTax experts online are available 7 days a week from 5 AM to 9 PM PT from January 5 to April 20, 2026, and 5 AM to 12 AM PT on April 15, 2026. Outside of tax season, regular hours for our online TurboTax experts are Monday through Friday, 5am to 5pm PT. Near the September and October extension deadlines, we will resume extended hours of operations including evening and weekend hours. Service, area of expertise, experience levels, and wait times vary, and are subject to restriction and change without notice. Unlimited access to TurboTax experts online is included with all Expert Assist and Expert Full Service products. TurboTax experts hours at TurboTax stores and Expert offices vary by location.
TurboTax Expert Full Service - File your taxes as soon as today: TurboTax Full Service experts are available to prepare 2025 tax returns starting January 5, 2026. One-day preparation and filing availability depends on start time, the complexity of your return, is based on completion time for the majority of customers, and may vary based on expert availability. A tax preparation assistant will validate the customer’s tax situation during the welcome call and review uploaded documents to assess readiness and ability to file same-day. All tax forms and documents must be ready and uploaded by the customer for the tax preparation assistant to refer the customer to an available expert for live tax preparation.
TurboTax Expert Full Service - “Local”: Not all feature combinations are available for all locations. In-person meetings with a local tax pro are available in some locations, but not available in all states or locations. "Local" tax pro is defined as being located within the same state as the client for virtual meetings. "Local" tax pro, for the purpose of in-person meetings, is defined as being located within 50 miles of the consumer's zip code.
Smart Insights: Individual taxes only. Included with TurboTax Do It Yourself Deluxe, Premium, TurboTax Expert Assist, TurboTax Expert Full Service, or with PLUS benefits, and is available through October 31, 2026. Terms and conditions may vary and are subject to change without notice.
My Docs: Included with TurboTax Do It Yourself, TurboTax Expert Assist, and TurboTax Expert Full Service and is available through December 31, 2026. Terms and conditions may vary and are subject to change without notice.
Tax Return Access: Included with all TurboTax Do It Yourself, TurboTax Expert Assist, and TurboTax Expert Full Service products. Access to up to seven years of tax returns we have on file for you is available through December 31, 2026. Terms and conditions may vary and are subject to change without notice.
Easy Online Amend: Individual taxes only. With TurboTax Do It Yourself Deluxe, TurboTax Do It Yourself Premium, TurboTax Expert Assist, TurboTax Expert Full Service, or with PLUS benefits, you can make changes to your 2025 tax return online through October 31, 2028. For TurboTax Expert Full Service, your tax expert will amend your 2025 tax return for you through November 15, 2026; after that date, TurboTax Expert Full Service customers will be able to amend their 2025 tax return themselves using the Easy Online Amend process described above. TurboTax Free Edition customers may amend 2025 tax returns online through October 31, 2026. Terms and conditions may vary and are subject to change without notice.
#1 best-selling tax software: Based on aggregated sales data for all tax year 2024 TurboTax products.
#1 online tax filing solution for self-employed: Based upon IRS Sole Proprietor data as of calendar year 2025, for tax year 2024. Self-Employed defined as a return with a Schedule C/C-EZ tax form. Online competitor data is extrapolated from press releases and SEC filings. “Online” is defined as an individual income tax DIY return (non-preparer signed) that was prepared online and either e-filed or printed, not including returns prepared through desktop software.
1099-Ks: Those filing in TurboTax Free Edition or TurboTax Expert Assist Basic will be able to file a limited IRS Schedule 1 if they have hobby income or personal property rental income reported on a Form 1099-K, and/or a limited IRS Schedule D if they have personal item sales with no gain reported on Form 1099-K. Those filing in TurboTax Do It Yourself Deluxe or TurboTax Expert Assist Deluxe will be able to file a limited IRS Schedule D if they have personal item sales income reported on Form 1099-K. If you add other schedules or forms, or need to report other types of income on Schedules 1, D, E, F, or Form 4835 you may be required to upgrade to another TurboTax product. Intuit reserves the right to terminate this offer at any time for any reason in its sole and absolute discretion.
1099-K Snap and Autofill: Available in mobile app and mobile web only.
1099-NEC Snap and Autofill: Available in TurboTax Do It Yourself Premium (formerly Self-Employed) and TurboTax Expert Assist Premium (formerly Self-Employed). Available in mobile app only. Feature available within Schedule C tax form for TurboTax filers with 1099-NEC income.
Year-Round Tax Estimator: Available in TurboTax Do It Yourself Premium (formerly Self-Employed) and TurboTax Expert Assist Premium (formerly Self-Employed). This product feature is only available after you finish and file in a self-employed TurboTax product.
Refer a Friend: Maximum of $500 in total rewards for 20 referrals. See official terms and conditions for more details.
Refer your Expert (TurboTax Customer referring Intuit’s own experts): Maximum of $500 in total rewards for 10 referrals. See official terms and conditions for more details.
Average Refund Amount: $3,453 is the average refund amount American taxpayers received in the 2024 filing season based upon IRS data as of February 21, 2025 and may not reflect actual refund amount received. Each taxpayer’s refund will vary based on their tax situation.
More self-employed deductions: based on the median amount of expenses found by TurboTax Do It Yourself Premium (formerly Self Employed) customers who synced accounts, imported and categorized transactions compared to manual entry. Individual results may vary.
TurboTax Online Business Products: For TurboTax Expert Assist Business and TurboTax Expert Full Service Business, we currently don’t support the following tax situations: C-Corps (Form 1120) and entities electing to be treated as a C-Corp, Trust/Estates (Form 1041), Tax Exempt Entities/Non-Profits, returns that require more than 5 state filings, and other issues unrelated to the preparation of a tax return or unrelated to business income/franchise taxes.
Audit Defense: Audit Defense is a third-party add-on service provided, for an additional fee, by TaxResources, Inc., dba Tax Audit. Audit Defense is included at no added cost with business returns filed with TurboTax Experts for Business (excluding Sole Proprietor). See Membership Agreements at https://www.intuit.com/legal/terms/ for service terms and conditions.

TURBOTAX EXPERT 365 BUSINESS:

Who’s Eligible for Expert 365 Business:

Expert 365 Business is available to customers with the following entity and business tax situations: sole proprietorships and single-member LLCs. At this time, the following entity types and business tax situations: C-Corps, S-Corps, partnerships, and existing QuickBooks customers, are not eligible for Expert 365 Business.

Your Expert 365 Business subscription includes access to the following services and features:

Quickbooks Simple Start: You have access for 1 user to Quickbooks Simple Start product. QB simple start offers features such as receipt capture, tracking income and expense, tracking miles and run financial reports on any device (mobile and web)
Tax-Ready Bookkeeping: You must connect your business accounts with Quickbooks in order for your Expert to be able to review and reconcile your books on a quarterly basis. The bookkeeping will be up-to-date to be tax-ready on a quarterly basis so the expert can calculate your quarterly tax payments and develop personalized tax advice. All advice and information made available by Expert 365 Business in connection with the bookkeeping service is based on the information you provide to Intuit or authorize Intuit to obtain from your banks and other third party platforms that sync data into our bookkeeping services, and the bookkeeping service cannot be relied upon to discover errors, fraud deflections or other irregularities, should any exist.
Business Tax Advisory Sessions: You can meet with your Expert on a quarterly basis to obtain personalized tax planning recommendations based on your information provided.
Quarterly Expert Reviews: Your Expert will be available to meet with you at least once per calendar quarter to deliver quarterly tax estimates, and review and reconcile your books.
TurboTax Expert Full Service: TurboTax experts are available to prepare 2025 tax returns starting January 5, 2026. One-day preparation and filing availability depends on start time, the complexity of your return, is based on completion time for the majority of customers, and may vary based on expert availability. A tax preparation assistant will validate the customer’s tax situation during the welcome call and review uploaded documents to assess readiness and ability to file same-day. All tax forms and documents must be ready and uploaded by the customer for the tax preparation assistant to refer the customer to an available expert for live tax preparation.

In addition, as a user of Expert 365 Business and use those Services for preparation and filing of your business return, the following Guarantees apply to your use of those Services: TurboTax Accurate Calculations Guarantee - Business Tax Returns, TurboTax Maximum Savings Guarantee - Business Tax Returns, and TurboTax Audit Support Guarantee - Business Tax Returns.

Free 30-Day Trial Offer Terms: To be eligible for this offer you must be a new Expert 365 Business customer. First thirty (30) days of subscription to Expert 365 Business, starting from the date of enrollment is free. At the end of the free trial, you’ll automatically be charged [$99.00 USD], plus applicable tax on a monthly basis on your account’s billing date until you cancel.

Cancelation: To cancel your Expert 365 Business subscription at any time go to Account & Settings in Expert 365 Business and select Cancel. Your cancelation will become effective at the end of the monthly billing period. You will not receive a pro-rated refund; your access and subscription benefits will continue for the remainder of the billing period. Terms, conditions, pricing, special features, and service and support options subject to change without notice.

Guarantees

100% Accurate Expert-Approved Guarantee: If you pay an IRS or state penalty (or interest) because of an error that a TurboTax expert made while providing topic-specific tax advice, a section review, or acting as a signed preparer for your individual or business tax return, we'll pay you the penalty and interest. You are responsible for paying any additional tax liability you may owe. Limitations apply. See Terms of Service for details.
Business Tax Guarantee: If you use TurboTax to file your business tax return, you will be covered by a combination of our 100% accurate calculations, maximum savings and audit support guarantees. If you pay an IRS or state penalty (or interest) because of a TurboTax calculation error or an error that a TurboTax expert made while acting as a signed preparer for your return, we'll pay you the penalty and interest. You are responsible for paying any additional tax liability you may owe. If you get a larger refund or smaller tax due from another tax preparer by filing an amended return, we'll refund the applicable TurboTax Expert Assist Business or TurboTax Expert Full Service Business federal and/or state purchase price paid. If you receive an audit letter from the IRS or State Department of Revenue, we will provide one-on-one question-and-answer support with a tax professional, if requested through our Audit Support Center. For representation before the IRS, our fee-based Audit Defense add-on service is available for purchase (sold separately). Additional terms and limitations apply. See Terms of Service for details.

Offer Terms

Cancelation: To cancel your Expert 365 Business subscription at any time go to Account & Settings in Expert 365 Business and select Cancel. Your cancelation will become effective at the end of the monthly billing period. You will not receive a pro-rated refund; your access and subscription benefits will continue for the remainder of the billing period.
Eligibility: We support sole proprietorships and single-member LLCs. At this time, C-Corps, S-Corps, partnerships, and existing QuickBooks customers are not eligible for Expert 365 Business.
Free 30-Day Trial Offer Terms: First thirty (30) days of subscription to Expert 365 Business, starting from the date of enrollment is free. At the end of the free trial, you’ll automatically be charged and you’ll be charged on a monthly basis thereafter at the then-current price for the service(s) you’ve selected until you cancel. If you add or remove services, your service fees will be adjusted accordingly. Sales tax may be applied where applicable. To be eligible for this offer you must be a new Expert 365 Business customer. Offer available for a limited time only. To cancel your Expert 365 Business subscription at any time go to Account & Settings in Expert 365 Business and select Cancel. Your cancelation will become effective at the end of the monthly billing period. You will not receive a pro-rated refund; your access and subscription benefits will continue for the remainder of the billing period. Terms, conditions, pricing, special features, and service and support options subject to change without notice.
Offer Terms: Your account will automatically be charged on a monthly basis until you cancel. If you add or remove services, your service fees will be adjusted accordingly. Sales tax may be applied where applicable.
Pricing: While your Expert 365 Business subscription is active, your account will be billed $99 on a monthly basis on your account’s billing date.
Cancel anytime before billing date, no monthly min, no pro-rated.

Features

Bookkeeping Services: You must connect your business accounts with Quickbooks in order for your expert to be able to review and reconcile your books on a quarterly basis. The bookkeeping will be up-to-date to be tax-ready on a quarterly basis so the expert can calculate your quarterly tax payments and develop personalized tax advice. All advice and information made available by Expert 365 Business in connection with the bookkeeping service is based on the information you provide to Intuit or authorize Intuit to obtain from your banks and other third party platforms that sync data into our bookkeeping services, and the bookkeeping service cannot be relied upon to discover errors, fraud deflections or other irregularities, should any exist.
Business Tax Advisory Sessions: You will meet with your dedicated expert on a quarterly basis to obtain personalized tax planning recommendations based on your information provided.
Quarterly Expert Reviews: Your expert will meet with you at least once per quarter to deliver your quarterly tax estimates, review your books, present tax saving opportunities and answer any questions you have.
TurboTax Expert Full Service - File your taxes as soon as today: TurboTax Full Service experts are available to prepare 2025 tax returns starting January 5, 2026. One-day preparation and filing availability depends on start time, the complexity of your return, is based on completion time for the majority of customers, and may vary based on expert availability. A tax preparation assistant will validate the customer’s tax situation during the welcome call and review uploaded documents to assess readiness and ability to file same-day. All tax forms and documents must be ready and uploaded by the customer for the tax preparation assistant to refer the customer to an available expert for live tax preparation.

TURBOTAX DESKTOP GUARANTEES

TurboTax Desktop Individual Returns:

100% Accurate Calculations Guarantee - Individual Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest. You are responsible for paying any additional tax liability you may owe. Excludes payment plans. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.
Maximum Refund Guarantee / Maximum Tax Savings Guarantee - or Your Money Back - Individual Returns: If you get a larger refund or smaller tax due from another tax preparation method by filing an amended return, we'll refund the applicable TurboTax federal and/or state software license purchase price you paid. You are responsible for paying any additional tax liability you may owe. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.
Audit Support Guarantee - Individual Returns: If you receive an audit letter from the IRS or State Department of Revenue based on your 2025 TurboTax individual tax return, we will provide one-on-one question-and-answer support with a tax professional, if requested through our Audit Support Center, for audited individual returns filed with TurboTax Desktop for the current 2025 tax year and, for individual, non-business returns, for the past two tax years (2023, 2024). Audit support is informational only. We will not represent you before the IRS or state tax authority or provide legal advice. If we are not able to connect you to one of our tax professionals, we will refund the applicable TurboTax federal and/or state license purchase price you paid. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.
Satisfaction Guarantee/ 60-Day Money Back Guarantee: If you're not completely satisfied with TurboTax Desktop software, go to refundrequest.intuit.com within 60 days of purchase and follow the process listed to submit a refund request. You must return this product using your license code or order number and dated receipt. Desktop add-on products and services purchased are non-refundable.

TurboTax Desktop Business Returns:

100% Accurate Calculations Guarantee - Business Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest. You are responsible for paying any additional tax liability you may owe. Excludes payment plans. You are responsible for paying any additional tax liability you may owe. Additional terms and limitations apply. See License Agreement for details.
Maximum Tax Savings Guarantee - Business Returns: If you get a smaller tax due (or larger business tax refund) from another tax preparation method using the same data, TurboTax will refund the applicable TurboTax Desktop Business license purchase price you paid. Additional terms and limitations apply. See License Agreement for details.
Satisfaction Guarantee/ 60-Day Money Back Guarantee: If you're not completely satisfied with TurboTax Desktop software, go to refundrequest.intuit.com within 60 days of purchase and follow the process listed to submit a refund request. You must return this product using your license code or order number and dated receipt. Desktop add-on products and services purchased are non-refundable.

TURBOTAX DESKTOP DISCLAIMERS

Installation Requirements: Product download, installation and activation requires an Intuit Account and internet connection. Product limited to one account per license code. You must accept the TurboTax License Agreement to use this product. Not for use by paid preparers.
TurboTax Desktop Products: Price includes tax preparation and printing of federal tax returns and free federal e-file of up to 5 federal tax returns. Additional fees may apply for e-filing state returns. E-file fees may not apply in certain states, check here for details. Savings and price comparison based on anticipated price increase. Software updates and optional online features require internet connection. Desktop add-on products and services purchased are non-refundable.
Fastest Refund Possible: Get your tax refund from the IRS as fast as possible by e-filing and choosing to receive your refund by direct deposit. Tax refund time frames will vary. The IRS issues more than 9 out of 10 refunds in less than 21 days.
Average Refund Amount: $3,453 is the average refund amount American taxpayers received in the 2025 filing season based upon IRS data as of February 21, 2025 and may not reflect actual refund amount received. Each taxpayer's refund will vary based on their tax situation.
TurboTax Technical Support: Customer service and technical support hours and options vary by time of year.
Deduct From Your Federal or State Refund: Individual taxes only. Subject to eligibility requirements. Additional terms apply. A $40 Refund Processing Service fee applies to this payment. method. Prices are subject to change without notice.
Data Import: Imports financial data from participating companies; Requires Intuit Account. Quicken and QuickBooks import not available with TurboTax installed on a Mac. Imports from Quicken (2023 and higher) and QuickBooks Desktop (2024); both Windows only. Quicken import not available for TurboTax Desktop Business. Quicken products provided by Quicken Inc., Quicken import subject to change.
Live Tax Advice: Access to tax experts to obtain answers to tax questions and to assist with tax year 2025 return(s) prepared with TurboTax Desktop software. Additional fees may apply. Must be purchased and used by October 31, 2026. Excludes TurboTax Desktop Business. See License Agreement for details.
Audit Defense: Audit Defense is a third-party add-on service provided, for a fee, by TaxResources, Inc., dba Tax Audit. See Membership Agreements at https://turbotax.intuit.com/corp/softwarelicense/ for service terms and conditions.

All features, services, support, prices, offers, terms and conditions are subject to change without notice.

Unless otherwise stated, strikethrough prices reflect anticipated late-season pricing (4/1–10/31; for S-corps & partnerships, 5/1–10/31).

Ways to file

Other filing options

Filing support

Tax calculators

Refunds & loans

Tax filing options

A Guide to the Capital Gains Tax Rates: Short-term vs. Long-term Capital Gains Taxes

Key Takeaways

What is the capital gains tax?

What is a capital asset?

What's the difference between a short-term and long-term capital gain or loss?

What are the short-term capital gains tax rates?

What are the 2025 short-term capital gains tax rates (for filing in 2026)?

What were the 2024 short-term capital gains tax rates (for filing in 2025)?

What are the long-term capital gains tax rates?

TurboTax Tip:

What are the 2025 long-term capital gains tax rates (for filing in 2026)?

What were the 2024 long-term capital gains tax rates (for filing in 2025)?

What are the special long-term capital tax rates?

Do you have to pay taxes on “net investment income”?

Are state capital gains tax rates different from federal tax rates?

How can you minimize capital gains taxes?

Frequently asked questions about capital gains tax rates

Investment and Self-employment taxes done right

Taxes done right for investors and self-employed

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TurboTax Online: Important Details about Filing Simple Form 1040 Returns

Examples of situations included in a simple Form 1040 return (assuming no added tax complexity):

Examples of situations not included in a simple Form 1040 return:

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