Berkeley CSUA MOTD:Entry 17971
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2025/05/25 [General] UID:1000 Activity:popular
5/25    

2000/4/11-12 [Politics/Domestic/California, Reference/Tax] UID:17971 Activity:moderate
4/11    Does California tax long-term at a lower rate than short-term capital
        gains with like the federal does?  I just filled out Form 540
        but it taxed all my capital gains as ordinary income.  Thanks.
        \_ Yeah, unfortunately that is the case when I did my taxes with
           TurboTax. :( Owed a LOT of money in Federal for cashing out an
           ESPP stock, got hit by FTB again as ordinary income. :(
        \_ You did your taxes wrong then. Long-term (stock held for more
           than one year) gains are taxed at 20%. Short-term gains are taxed
           at your income rate (probably 31 or 36%).
                \_ Max CA state income tax rate is ~9%.  You're confusing
                   state & feds.
           \_ That's what the federal tax return does, but I can't find where
              the California tax return separates long-term gains from
              short-term gains and ordinary income.
2025/05/25 [General] UID:1000 Activity:popular
5/25    

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