The Tax Biden Would Double and Trump Looks to Cut: QuickTake

Capital gains taxes are the price of making a good investment. They’re levied on profitable stock trades and real estate deals but also can apply to sales of businesses, pieces of art, collectible cars, gold and other assets. For the second time in a year, President Donald Trump says he’s “very seriously” considering reducing capital gains tax bills for investors, while his presumptive Democratic challenger, Joseph Biden, would raise money for his domestic agenda in part by doubling that tax rate.

1. How are capital gains taxed?

Investors are taxed on the difference between what they paid for the ...