Trying to Google I get statements such as LTCG rate capped at 28% or LTCG rate up to 28%.
Normal LTCG rate is 0%, 15%, 20% based on income.
Are all collectables taxed at the 28% rate or is it indexed to income?
Does it mean that if you reach the 20% rate on normal LTCG it is 28% on collectables, but if your income is low enough it might still be 0% or 15%?
Also, sales tax paid when purchasing a collectable increases the basis, right?
Normal LTCG rate is 0%, 15%, 20% based on income.
Are all collectables taxed at the 28% rate or is it indexed to income?
Does it mean that if you reach the 20% rate on normal LTCG it is 28% on collectables, but if your income is low enough it might still be 0% or 15%?
Also, sales tax paid when purchasing a collectable increases the basis, right?