The United States

Reuven S. Avi-Yonah; Dmitry Zelik

Capital Gains Taxation

A Comparative Analysis of Key Issues

Edited by Michael Littlewood and Craig Elliffe

Capital gains taxes pose a host of technical and political design problems and yet, while the literature on the theory of capital gains taxation is substantial, little has been published on how governments have addressed these dilemmas. Written by a team of distinguished international experts, Capital Gains Taxation addresses the gap in the literature; it explains how a number of countries tax capital gains and the successes and pitfalls of these methods.

Monograph Book

Published in print:: 25 Aug 2017

ISBN:: 9781784716011

eISBN:: 9781784716028

DOI:: https://doi.org/10.4337/9781784716028

Pages:: c 448

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Chapter 12: The United States

Reuven S. Avi-Yonah and Dmitry Zelik

Monograph Chapter

Published:: 25 August 2017

Category:: Monograph Chapter

DOI:: https://doi.org/10.4337/9781784716028.00020

Pages:: 363–402 (40 total)

Collection: Law 2017

Abstract

This chapter examines the tax treatment of capital gains in the United States. It explains the history of the US capital gains tax, its basic design (relationship to income tax, the scope of the tax, the tax treatment of different asset classes, the rates of tax, losses, and so on), how particular problems have been addressed (family homes, avoidance, and so on), and the lessons that might be learned from it. Keywords: capital gains tax; United States; tax system design

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